On February 7, 2021, Sansoni Services exchanged an asset with a cost of $20,000 (now 30% depreciated) for a similar asse

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answerhappygod
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On February 7, 2021, Sansoni Services exchanged an asset with a cost of $20,000 (now 30% depreciated) for a similar asse

Post by answerhappygod »

On February 7, 2021, Sansoni Services exchanged an asset with a
cost of $20,000 (now 30%
depreciated) for a similar asset worth $18,000. Sansoni received
$2,000 in cash. Journalize the
equipment exchange on February 7, 2021.
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