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The original cost of a machine was $60,000.After $45,000 of depreciation was recorded,the machine was traded in on a new machine of like purpose priced at $75,000.A $10,500 trade-in allowance was received on the old machine and the balance of $64,500 was paid in cash.Prepare the general journal entry to record this trade-in.
Justification
The process of proving something to be right or reasonable, often used in contexts of moral, ethical, or legal debates.
Civil Ceremonies
Non-religious ceremonies conducted by a government official or civil celebrant.
Legal Suit
A legal action brought in court by one party against another for the enforcement or protection of a right, or the redress of a wrong.
Selling Off
The act of divesting or disposing of assets, property, or inventory, often quickly or without regard to the loss in value.
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