Dodson Company Traded in a Manual Pressing Machine for an Automated

question 21

Short Answer

Dodson Company traded in a manual pressing machine for an automated pressing machine and gave $24,000 cash. The old machine cost $279,000 and had a net book value of $213,000. The old machine had a fair value of $180,000.Which of the following is the correct journal entry to record the exchange?

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Definitions:

Nonverbal Cues

Signals conveyed through body language, facial expressions, gestures, and other forms of non-linguistic communication that can inform, guide, or modify interactions.

Interpersonal Communication Myths

False beliefs or misconceptions about the nature and processes of interpersonal communication, which can hinder effective interaction.

Social Presence

The feeling that communicators have of engaging in unmediated, face-to-face interactions when messages are being sent electronically.

Electronic Communicators

Devices or platforms used for digital communication, such as computers, smartphones, and social media platforms.