Nash Corporation traded a used truck (cost $23.600, accumulated depreciation $21.240) for a small computer with...

 

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Nash Corporation traded a used truck (cost $23.600, accumulated depreciation $21.240) for a small computer with a fair value of $3,894. Nash also paid $590 in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit [11] 2 Nash Corporation traded a used truck (cost $23.600, accumulated depreciation $21.240) for a small computer with a fair value of $3,894. Nash also paid $590 in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit [11] 2

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Account Titles and Explanation Equipment computer Accumulated depreciation Trucks ... View the full answer