Opal inc. owns a delivery truck that initially cost 40000., Ask an Expert

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Opal, Inc. owns a delivery truck that initially cost $40,000. After a depreciation of $15,000 had been deducted, the truck was traded-in on a new truck that cost $50,000. Opal was required to pay the car dealer $10,000 in cash. What is Opal's basis for the new truck?

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Accounting Basics, Accounting

Category:- Accounting Basics
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