Macey Co.exchanged a piece of equipment that had cost $40, 000 (now 75% depreciated) for a truck with a current appraised value of $13, 000.Macey Co.gave the other company the piece of equipment and $8, 000.Macey Co.should record
A) a $5, 000 loss
B) the truck at $18, 000
C) a gain of $11, 000
D) the truck at $21, 000
Correct Answer:
Verified
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