Question: Rivera Company exchanges old delivery equipment for new delivery equipment The

Rivera Company exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $31,000 (cost $61,000 less accumulated depreciation $30,000). Its fair value if $19,000 and cash of $5,000 is paid. Prepare the entry to record the exchange, assuming the transaction has commercial substance.


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  • CreatedMarch 11, 2013
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