Job Sales Traded a Truck They Had Owned for Some $$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array}$$

question 128

Essay

Job Sales traded a truck they had owned for some time,in an even like-kind exchange for another truck.The original truck had been purchased by Job for $36,000,and had accumulated depreciation of $30,000 at the time it was exchanged.The truck Job received in exchange was valued at $8,000.Please provide the journal entry for this transaction.
$$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array}$$

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Definitions:

Abbreviation

The shortened form of a word or phrase used to simplify writing usually followed by a period.

Total Body Weight

The overall mass of an individual, measured in units of pounds or kilograms.

Abbreviation

A minimized form of a word or phrase.

Full Range Of Motion

The complete movement potential of a joint, usually its range from flexion to extension.