Corp. traded in a manual pressing machine for an automated pressing machine and gave $46500 cash. The old machine cost $478000 and had a net book value of $343000. The old machine had a fair value of $310000. Which of the following is the correct journal entry to record the exchange assuming commercial substance? Equipment   659500         Accumulated Depreciation       135000     Equipment       478000     Cash       46500 Equipment   356500         Equipment       310000     Cash       46500  Equipment   356500

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