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On January 9, 2020, x exchange equipment with Amazon Inc. for $15,000 cash and another piece of equipment with a fair market value of $135,000.
- On January 9, 2020, x exchange equipment with Amazon Inc. for $15,000 cash and another piece of equipment with a fair market value of $135,000. The equipment x gave up had an original cost of $130,000 and accumulated depreciation of $30,000. The exchange lacked commercial substance. Record the exchange.
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