Essay
Dodd Delivery Company and Hess Delivery Company exchanged delivery trucks on January 1, 2014. Dodd's truck cost $84,000, had accumulated depreciation of $69,000, and has a fair value of $11,000. Hess's truck cost $65,000, had accumulated depreciation of $54,000, and has a fair value of $11,000.
Instructions
(a) Journalize the exchange for Dodd Delivery Company.
(b) Journalize the exchange for Hess Delivery Company.
Correct Answer:
Verified
Correct Answer:
Verified
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