Prepare the journal entry to record the exchange assuming, Ask an Expert

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Navajo Corporation traded a used truck (cost $63,740, accumulated depreciation $57,366) for a small computer worth $10,517. Navajo also paid $1,594 in the transaction.

Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M939243

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