Multiple Choice
Billy's Computer Shop purchased some new equipment trading in old equipment with a carrying amount of $10 000. Cash of $9000 was paid to the supplier and a trade-in allowance of $7000 was granted. The new equipment should be recorded at:
A) $19 000.
B) $16 000.
C) $9000.
D) $7000.
Correct Answer:
Verified
Correct Answer:
Verified
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