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Black n White Company purchased equipment for $45,000. The company recorded total depreciation of $36,000 on the equipment. On January 1, 2015, Black n White traded in the equipment for new equipment, paying $54,000 cash. The fair market value of the new equipment is $65,000. Journalize the company's exchange of equipment. Assume the exchange had commercial substance.
Test Difficulty
The measure of how challenging an examination or a set of questions is, often determined by the proportion of test-takers who answer correctly.
Experimental Group
The group in an experiment that receives the variable being tested, contrasted with a control group that does not.
Randomly Assigned
A method used in experiments where participants are allocated to different groups in an unpredictable manner to reduce biases and ensure validity.
Erectile Disorder
A condition in which an individual struggles to achieve or keep an erection during sexual activities.
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