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A company purchased a machine valued at $66,000. It traded in an old machine for a $9,000 trade-in allowance and the company paid $57,000 cash with the trade-in. The old machine cost $44,000 and had accumulated depreciation of $36,000. This transaction has commercial substance. What is the recorded value of the new machine?

a. $ 8,000.

b. $ 9,000.

c. $57,000.

d. $65,000.

e. $66,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
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