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Alamos Co. exchanged equipment and $17,800 cash for similar equipment. The book value and the fair value of the old equipment were $81,600 and $91,900,
Alamos Co. exchanged equipment and $17,800 cash for similar equipment. The book value and the fair value of the old equipment were $81,600 and $91,900, respectively. Assuming that the exchange lacks commercial substance, Alamos would record a gain/(loss) of: Multiple Choice $(10,300). $28,100. $ 0. $ 10,300
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