lomework

Question $4,$ TIF$9$A$-7($similar to$)$

HW Score: $69\mathrm{.}2\%,20\mathrm{.}76$ of $30$ points

Part $2$ of $2$

Points: $0\mathrm{.}63$ of $2$

$7$A$.$ CD Warehouse purchased equipment for $$17,000.$ CD Warehouse recorded total depreciation of $$13,000$ on the equipment. Assume that CD Warehouse exchanged the old equipment for new equipment, paying $$2,200$ cash. The fair market value of the new equipment is $$6,000.$ Journalize CD Warehouse's exchange of equipment. Assume

this exchange has commercial substance. Journalize CD$\text{'}$s exhange of equipment