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Score: 4.81 of 10 pts 5 of 5 (5 complete) HW Score: 67.43%, 23.6 of P9A-35A (similar to) Question Help During 2018, Tivora Corporation completed the following transactions: (Click the icon to view transactions.) Record the transactions in the journal of Tivora Corporation. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 1: Traded in old office equipment with book value of $20,000 (cost of $86,000 and accumulated depreciation of 566,000) for new equipment. Tivora also paid $60,000 in cash. Fair value of new equipment is $84,000. Assume the exchange had commercial substance. (Record a single compound journal entry.) Date Accounts and Explanation Debit Credit Jan 1 Office Equipment (new) 60000 0 More Info Accumulated Depreciation Office Equipment 66000 Jan. 1 Traded in old office equipment with book value of $20,000 (C of $86,000 and accumulated depreciation of 566,000) for neu equipment. Tivora also paid $60,000 in cash. Fair value of ne equipment is $84,000. Assume the exchange had commerce substance. Apr. 1 Sold equipment that cost $12,000 (accumulated depreciation $4,000 through December 31 of the preceding year). Tivora received $4.900 cash from the sale of the equipment Depreciation is computed on a straight-line basis. The equipm has a five-year useful life and a residual value of 50. Dec. Recorded depreciation as follows: 31 Office equipment is depreciated using the double-declining balance method over four years with a $3,000 residual value Choose from any list or enter any number in the input fields and then click check Answer Print Done 3 remaining 3 parts Clear All na check 1 2 3 4 5 6 7 8 9 0