A company purchased equipment valued at $66,000.It traded in old equipment for a $9,000 trade-in allowance and the company paid $57,000 cash with the trade-in.The old equipment cost $44,000 and had accumulated depreciation of $36,000.This transaction has commercial substance.What is the recorded value of the new equipment?
A)$8,000.
B)$9,000.
C)$57,000.
D)$65,000.
E)$66,000.

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The Answer of A company purchased equipment valued at $66,000.It traded in old equipment for a $9,000 trade-in allowance and the company paid $57,000 cash with the trade-in.The old equipment cost $44,000 and had accumulated depreciation of $36,000.This transaction has commercial substance.What is the recorded value of the new equipment?
A)$8,000.
B)$9,000.
C)$57,000.
D)$65,000.
E)$66,000.

A Company Purchased Equipment Valued at $66,000