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Alamos Co. exchanged equipment and $17,900 cash for similar equipment. The book value and the fair value of the old equipment were $81,300 and $90,700,
Alamos Co. exchanged equipment and $17,900 cash for similar equipment. The book value and the fair value of the old equipment were $81,300 and $90,700, respectively. Assuming that the exchange lacks commercial substance, Alamos would record a gain/(loss) on exchange of assets in the amount of: Multiple Choice $27,300. o $0. $9,400. $(9.400)
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