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Home > Business & Careers > Accounting   »   Journal entry

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Old Dec 18, 2006, 06:41 PM
SBarnes4
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Journal entry

Asset A
Cost Basis $69,000
Depreciation taken $19,000
Abs Basis $50,000

Asset A Traded-In on Asset B

Asset B
Asset B $68,000
Trade-In value $45,000
"Boot" to Pay $23,000


Please help me with the journal entry to record this transaction
Thanks!

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