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Business, 28.10.2021 03:10 soriajimmy85

A company's old machine that cost $59,000 and had accumulated depreciation of $47,100 was traded in on a new machine having an estimated 20-year life with an invoice price of $70,900. The company also paid $60,100 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at:

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A company's old machine that cost $59,000 and had accumulated depreciation of $47,100 was traded in...
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