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Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance. old Equipment Book Value Fair Value $ 73,400

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Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance. old Equipment Book Value Fair Value $ 73,400 $81,900 $61,200 $54,600 Cash Received $12,000 $10,200 Equipment A Equipment B For Equipment A, Pensacola would record the new equipment at: Multiple Choice $69,900. $71,400. $74,150

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