Alvery Industries had a piece of equipment that cost $49,000 and had accumulated depreciation of...
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Accounting
Alvery Industries had a piece of equipment that cost $49,000 and had accumulated depreciation of $40,000. Read the requirement. a. Alvery discarded the equipment receiving $0. b. Alvery sold the equipment for $9, 500 cash. c. Alvery traded the equipment in on a new piece of equipment costing $50,000. Alvery was granted a $14,000 trade-in allowance for the old equipment and paid the difference in cash. d. Alvery traded the equipment in on a new piece of equipment costing $42,000. Alvery was granted a $6, 500 trade-in allowance for the old equipment and signed a note payable for the difference
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