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upton upton
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6 years ago
A truck that cost $28,000 has been owned for 3 years and is traded for another truck for the same purpose. Total accumulated depreciation at the time of trade is $17,600. The trade-in value of the old truck is $10,000 and the new truck has a fair market value of $32,000, the new truck would be recorded at:
A) $28,400.
B) $32,000.
C) $29,400.
D) $32,400.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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AugustisAugustis
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6 years ago
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