Question: c. The machine plus $84,000 was exchanged for a delivery van having a fair value of $120,000. Journal entry worksheet Note; Enter debits before credies.

before credies. On January 2, 2023, Direct Shoes Inc disposed of a

machine that cost $100,000 and had been depreciated $54,850. Present the journal

c. The machine plus $84,000 was exchanged for a delivery van having a fair value of $120,000. Journal entry worksheet Note; Enter debits before credies. On January 2, 2023, Direct Shoes Inc disposed of a machine that cost $100,000 and had been depreciated $54,850. Present the journal entries to record the disposal under each of the following unrelated assumptions: a. The machine was sold for $43,500 cash. b. The machine was traded in on new tooks having a $149,000 cash price. A $56,000 trade-in allowance was received, and the balance was paid in cash. Since the tools have been customized, the fair values are not known. d. The machine was traded for vacant land adjacent to the shop to be used as a parking lot. The land had a fair value of $91,000, and Direct Shoes inc paid $41,000 cash in addition to giving the seller the machine. Journal entry worksheet

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