Cliff Company traded in an old truck for a new one. The old truck had...
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Cliff Company traded in an old truck for a new one. The old truck had a cost of $ and accumulated depreciation of $ The new truck had an invoice price of $ Huffington was given a $ tradein allowance on the old truck, which meant they paid $ in addition to the old truck to acquire the new truck. If this transaction has commercial substance, what is the recorded value of the new truck?
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$
$
$
$
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