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China Inn and Midwest Chicken exchanged assets. China Inn received delivery equipment and gave restaurant equipment. The fair value and book value of the restaurant
China Inn and Midwest Chicken exchanged assets. China Inn received delivery equipment and gave restaurant equipment. The fair value and book value of the restaurant equipment were $ and $original cost of $ less accumulated depreciation of $ respectively. To equalize market values of the exchanged assets, China Inn paid $ in cash to Midwest Chicken.
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