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D purchased a used car for $4,000 from Juniors Used Cars. The fair market value of the car was only $2,500. Has D made a
- D purchased a used car for $4,000 from Juniors Used Cars. The fair market value of the car was only $2,500.
- Has D made a gift of $1,500 to Junior?
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- Would the result be different if D and Junior were relatives?
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Intermediate Accounting
Authors: David Spiceland
11th Edition
1264134525, 9781264134526
