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cda29
May 22, 2007, 04:33 PM
how do i journalize this:

two pieces of equipment traded for one new piece.
equipment piece A-traded in for 400 with book value of 200 and accumulated depreciation of 250. original purchase price 500. note payoff amount 265

equipment piece b- traded for 500, original purchase price 600, accumulated depreciation 300, book value 400. note payoff amount 350

new equipment piece c- additional amount financed 5,000 (of amount financed 2500 toward lease purchase, 2500 deposited to my companie's bank account)

any help provided is GREATLY appreciated!!! :)