On January 1, 2012, Sandy's Tax Service acquired a new color copier in exchange for an old color copier. The old copier had a cost of $14,500 and accumulated depreciation of $8,000. Sandy's Office Store also paid out $12,000 in cash. Prepare the journal entry to record the exchange.

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The Answer of On January 1, 2012, Sandy's Tax Service acquired a new color copier in exchange for an old color copier. The old copier had a cost of $14,500 and accumulated depreciation of $8,000. Sandy's Office Store also paid out $12,000 in cash. Prepare the journal entry to record the exchange.

On January 1, 2012, Sandy's Tax Service Acquired a New