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jbondman871
Sep 26, 2007, 11:47 AM
Traded the old company truck for a new truck on June 21. The cost of the old truck was $3,600 and on March 31, had depreciated $2350, straight-line depreciation is $50 a month. New truck is listed for $18950, and allowed a trade-in allowance of $2825. What would be the two entires for this?