Freedom Bank recently traded in office fixtures. Here are the facts, Click the icon to view the facts) Read the requirements Requirement 1. Record Freedom Bank's trade-in of old fixtures for new ones. Assume the exchange had commercial substance Let's begin by calculating the gain or loss on the exchange of fixtures (Enter "0" for items with a zero value) Market value of assets received Less Book value of asset exchanged Cash paid Gain or (Los) din office fixtures. Here are the facts: e facts.) - X * Requirements reedom Ba the gain or eceived 1. Record Freedom Bank's trade-in of old fixtures for new ones. Assume the exchange had commercial substance. 2. Now let's change one fact. Freedom Bank feels compelled to do business with Mountain Furniture, a bank customer, even though the bank can get the fixtures elsewhere at a better price. Freedom Bank is aware that the new fixtures' market value is only $125,000. Record the trade-in. Assume the exchange had commercial substance exchanged Print Done the edit nields and then click Check Answer Freedom Bank recently traded in office fixtures. Here are the facts, Click the icon to view the facts) Read the requirements Requirement 1. Record Freedom Bank's trade-in of old fixtures for new ones. Assume the exchange had commercial substance Let's begin by calculating the gain or loss on the exchange of fixtures (Enter "0" for items with a zero value) Market value of assets received Less Book value of asset exchanged Cash paid Gain or (Los) din office fixtures. Here are the facts: e facts.) - X * Requirements reedom Ba the gain or eceived 1. Record Freedom Bank's trade-in of old fixtures for new ones. Assume the exchange had commercial substance. 2. Now let's change one fact. Freedom Bank feels compelled to do business with Mountain Furniture, a bank customer, even though the bank can get the fixtures elsewhere at a better price. Freedom Bank is aware that the new fixtures' market value is only $125,000. Record the trade-in. Assume the exchange had commercial substance exchanged Print Done the edit nields and then click Check