santiago1425 santiago1425

25-11-2022
Business

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a company exchanged old equipment and $18,300 cash for similar equipment. the book value and the fair value of the old equipment were $81,800 and $90,200, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain (loss) of:26,0008,000<8,000>0Prepare the journal entry for the above transaction.

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