Business, 06.12.2019 19:31 chubby087

When a company exchanges machinery and receives a trade-in allowance less than the book value, this
transaction would be recorded with the following entry:
a. debit cash and machinery; credit accumulated depreciation
b. debit cash and machinery; credit accumulated depreciation and machinery
c. debit machinery and accumulated depreciation; credit machinery and cash
d. debit machinery, accumulated depreciation, and loss on disposal; credit machinery and cash

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