Question: Flint Company exchanged a used machine with a book value of $25,900 (cost $53,800 less $27,900 accumulated depreciation) and cash of $7,700 for a delivery

Flint Company exchanged a used machine with a book value of

Flint Company exchanged a used machine with a book value of $25,900 (cost $53,800 less $27,900 accumulated depreciation) and cash of $7,700 for a delivery truck. The machine is estimated to have a fair market value of $35,700. The cash flows related to the truck will be different from the cash flows generated from the use of the machine. Requirement Prepare the journal entry to record the exchange on the books of the Flint Company. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Date of the Exchange Choose from any list or enter any number in the innut fields and then continue to the neyt

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