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Question 17 1 pts An entity used an item of machinery in exchange for a motor vehicle. The carrying amount of the machinery is
Question 17 1 pts An entity used an item of machinery in exchange for a motor vehicle. The carrying amount of the machinery is $6000 and similar machinery has recently been sold on the secondary market for $9000. The journal entry to record the acquisition of the machinery will include: a loss on acquisition of $3000. proceeds on sale of motor vehicle of $3000. A gain of $6000. a gain on sale of $3000.
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