Wash N' Dry Company Purchased Equipment for $45,000

question 49

Essay

Wash N' Dry Company purchased equipment for $45,000.Total depreciation of $36,000 was recorded.On January 1,2017,Wash N' Dry exchanges the equipment for new equipment,paying $54,000 cash.The market value of the new equipment is $65,000.Prepare the journal entry to record this transaction.Assume the exchange has commercial substance.Omit explanation.

---

Definitions:

Advanced Practice Nurse

A registered nurse with advanced education and clinical training, authorized to perform complex healthcare tasks.

Dialectical Behavioral Therapy

A form of therapy designed to help people cope with stress, manage emotions, and improve relationships through a blend of cognitive-behavioral techniques and mindfulness practices.

Staff Nurse

A licensed healthcare professional specializing in providing care and support to patients in various healthcare settings.

Oppositional Defiant Disorder (ODD)

A behavioral disorder in children characterized by ongoing patterns of uncooperative, defiant, and hostile behavior towards authority figures.