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a company entered an asset exchange with another company exchanging its equip for land owned by another company. the equipment had a historical cost of
a company entered an asset exchange with another company exchanging its equip for land owned by another company. the equipment had a historical cost of 7500000 and accumulated depreciation of 4100000 at the data of the exchange. the fair value of the equipment owned by the company is assessed at 3000000. the company paid 250000 in addition to the equipment to facilitate the exchange. the exchange does not have commercial substance. provide the journal entry
a company entered an asset exchange with another company exchanging its equip for land owned by another company. the equipment had a historical cost of 7500000 and accumulated depreciation of 4100000 at the data of the exchange. the fair value of the equipment owned by the company is assessed at 3000000. the company paid 250000 in addition to the equipment to facilitate the exchange. the exchange does not have commercial substance.
provide the journal entry
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Trade Based Money Laundering
Authors: John A. Cassara
1st Edition
1119078954, 9781119078951
