Navajo ASA traded a used truck for a new truck (cost 30,000, accumulated depreciation 27,000)...
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Accounting
Navajo ASA traded a used truck for a new truck (cost 30,000, accumulated depreciation 27,000) The new truck worth 37,000. Navajo also made a cash payment of 36,000. Required: Prepare the journal entry to record the exchange. (The exchange has lacks commercial substance)
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