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Baxter Company transferred Equipment to Maize and Blue Company in exchange fo and Blue. Assume that this transaction has commercial substance for both company Baxter

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Baxter Company transferred Equipment to Maize and Blue Company in exchange fo and Blue. Assume that this transaction has commercial substance for both company Baxter Company equipment transferred to Maize and Blue Original Cost $25,000 Accum. Deprec. 15,000 Cash Received 5,000 Fair Market Value of Truck Given 23,000 Maize and Blue Transfer of machine to Baxter Original Cost Accum. Deprec. Cash Given Fair Market Value of Truck Given 9,000 5,000 18,000 The cost on Maize and Blue's books for the receipt of the equipment would be: BOR DDD 000 F4 Saved The cost on Maize and Blue's books for the receipt of the equipment we Multiple Choice 5:33 $23,000 $21,000 $18,000 (). $28,000

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