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In an exchange that lacks commercial substance in which a gain exists, and cash is received, the asset received is recorded at the: Select answer
In an exchange that lacks commercial substance in which a gain exists, and cash is received, the asset received is recorded at the:\ Select answer from the options below\ book value of the asset given up less the deferred portion of the gain.\ fair value of the asset given up less cash received.\ book value of the asset given up less cash received.\ fair value of the asset received less the deferred portion of the gain.
In an exchange that lacks commercial substance in which a gain exists, and cash is received, the asset received is recorded at the:\ Select answer from the options below\ book value of the asset given up less the deferred portion of the gain.\ fair value of the asset given up less cash received.\ book value of the asset given up less cash received.\ fair value of the asset received less the deferred portion of the gain.
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