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Brief Exercise 10-09 Sandhill Corporation traded a used truck (cost $22,000, accumulated depreciation $19,800) for...

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Accounting

Brief Exercise 10-09

Sandhill Corporation traded a used truck (cost $22,000, accumulated depreciation $19,800) for a small computer with a fair value of $3,630. Sandhill also paid $550 in the transaction. Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance.

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Debit

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