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complete both parts. The Bronco Corporation exchanged land for equipment. The land had a book value of $137000 and a fair value of $184.000. Bronco

complete both parts.
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The Bronco Corporation exchanged land for equipment. The land had a book value of $137000 and a fair value of $184.000. Bronco paid the owner of the equipment $27,000 to complete the exchange which has commercial substance. Required: 1. What is the folr value of the equipment? 2. Prepare the journal entry to record the exchange. Complete this question by

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