problem 3

Givenom Problem 3: Otsing the cost and accumulated depreciation from Problem 2. assume that the old machine is traded in in a new one instead of simply being disposed of. The agreed upon price of the replacement machine is Journalize the exchange entry required if the dealer offers the following trade-in-allowances (TIA) $ a) TIA 73,000 b) TA = $1,700 c) TIA =$9 600 Problem 2: Blink Blink Corp.. on March 31, 2018, sold an old machine that originally cost $64,000 and had accumulated depreciated of $61,000 over its lifetime. a) Give the journal entry to record the sale if the machine sold for $3,000 b) Give the journal entry to record the sale if the machine sold for $15,000 c) Give the journal entry to record the sale if the machine sold for $1,000 d) Give the journal entry if the machine is simply thrown away with no cash received. Problem 3: Using the cost and accumulated depreciation from Problem 2, assume that the old machine is traded in on a new one instead of simply being disposed of. The agreed upon price of the replacement machine is $ Journalize the exchange entry required if the dealer offers the following trade-in-allowances (TIA) a) TIA = $3,000 b) TI=$1,700 c) TI = $9 600