Dodson Company traded in a manual pressing machine for an automated pressing machine and gave $24,000 cash.
Fantastic news! We've Found the answer you've been seeking!
Question:
Dodson Company traded in a manual pressing machine for an automated pressing machine and gave $24,000 cash. The old machine cost $279,000 and had a net book value of $213,000. The old machine had a fair value of $180,000. Prepare the journal entry to record the exchange.
Related Book For
Posted Date: