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Cordero Company exchanges old delivery equipment for new delivery equipment. The book value of the...

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Accounting

Cordero Company exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $37,400 (cost $68,130 less accumulated depreciation $30,730). Its fair value is $39,350, and cash of $5,120 is paid. Prepare the entry to record the exchange.

1) 2) 3) 4) 5)

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