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Culver Company exchanged equipment used in its manufacturing operations plus $3,180 in cash for similar equipment used in the operations of Larkspur Company. The following

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Culver Company exchanged equipment used in its manufacturing operations plus $3,180 in cash for similar equipment used in the operations of Larkspur Company. The following information pertains to the exchange. Culver Co. Larkspur Co. Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up $29,680 20,140 13,250 $29,680 10,600 16,430 3,180

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