During the Current Year,a Company Acquired a New Computer with a Cash

question 149

Essay

During the current year,a company acquired a new computer with a cash price of $12,800 by exchanging an old one on which the company received a $1,500 trade-in allowance (with the balance of $11,300 paid in cash).The old computer cost $9,000 and its accumulated depreciation was $5,500 as of the exchange date.Prepare the journal entry to record the exchange.

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Definitions:

Theoretical Grounding

A foundational basis provided by theories or frameworks that support and explain a research study or psychological approach.

Continuum Model

An approach suggesting that certain traits or behaviors can be understood as occurring along a spectrum rather than in binary categories.

Dysfunctional

Impaired or abnormal functioning, often used in the context of families or behavior.

Deviant Behavior

Refers to actions or behaviors that violate social norms or values.