Question: Krisrali Corporation traded a used truck cost 23 000 accumulated depreciation

Krisrali Corporation traded a used truck (cost $23,000, accumulated depreciation $20,700) for another used truck worth $3,700. Kristali also paid $3 00 cash in the transaction. Prepare the journal entry to record the exchange, assuming the transaction lacks commercial substance.

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  • CreatedSeptember 18, 2015
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