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Meriwether Mousepads exchanges their equipment with Tennis Corp. for another plece of equipment. In addition. Meriwether also pays $3,000cash to Tennis for the exchange. The

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Meriwether Mousepads exchanges their equipment with Tennis Corp. for another plece of equipment. In addition. Meriwether also pays $3,000cash to Tennis for the exchange. The following information portains to the asset given up by each company: What is the amount of gain or loss recognized by Tennis if the oxchange has commercial substance? Round to the nearest dollar. 1,000 gain 46 gain no gain or loss None of these choices 5,000 loss

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