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How bacon company should record

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Problem 1: Bacon Company acquired new machinery with a price of $13,831 by trading in similar old machinery and paying $12,448. The old machinery originally cost $9,286 and had accumulated depreciation of $7,429. In recording this transaction, Bacon Company should record

Option a. the new machinery at $12,448

Option b. a loss of $474

Option c. a gain of $474

Option d. the new machinery at $11,974

Reference no: EM132476564

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