BR acquired a new machine that had a cash price of $10,800. The company paid $1,000 cash and traded in an old machine that originally cost $24,000 with accumulated amortization of $14,000. Give the exchange entry for BR under each of the two assumptions:
Assumption A-the assets are similar:
Assumption B-the assets are dissimilar:

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The Answer of BR acquired a new machine that had a cash price of $10,800. The company paid $1,000 cash and traded in an old machine that originally cost $24,000 with accumulated amortization of $14,000. Give the exchange entry for BR under each of the two assumptions:
Assumption A-the assets are similar:
Assumption B-the assets are dissimilar:

BR Acquired a New Machine That Had a Cash Price