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barreto brewing company and blaker brewing company exchanges assets this transaction has commercial substance details follow: barreto information: asset given up by barreto cost the

barreto brewing company and blaker brewing company exchanges assets this transaction has commercial substance details follow: barreto information: asset given up by barreto cost the company $10,000 and has accumulated depreciation of $6,000. fair value of barreto's asset given up to blakey is $2,000. barreto pays $2,000 cash blakey. prepare the necessary journal entry for barreto company regarding the asset exchange

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