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Exchange of Nonmonetary Assets The company exchanged a piece of land for a new price of equipment. The equipment has a list of price of

Exchange of Nonmonetary Assets
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The company exchanged a piece of land for a new price of equipment. The equipment has a list of price of $100,000, and the land has a historical cost of $35,000. The land has a current market value of $93,000 piece of equipment. Make the journal entry necessary to record the exchange. If an amount box does not require an entry, leave it blank

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