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E 1 0 - 1 5 Nonmonetary exchange LO 1 0 - 6 Assume the same facts as in E 1 0 - 1 4

10 - 15

Nonmonetary exchange LO

10 - 6

Assume the same facts as in

E 10 - 14,

except that the fair value of the old equipment is $

170, 000,

Required:

Prepare the journal entry to record the exchange.

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