Asset traded for similar asset Assume the same facts as in Exercise 9-23, except that the book

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Asset traded for similar asset Assume the same facts as in Exercise 9-23, except that the book value of the press traded in is

$108,500.

(a) What is the amount of cash given?

(b) What is the gain or loss on the exchange?

AppendixLO1

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Corporate Financial Accounting

ISBN: 9781337398176

15th Edition

Authors: Carl Warren, Jefferson Jones

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