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Question 20 1.40845 points Save Answer a Previn Brothers Inc. traded a used equipment that cost $25,000 for a used pickup truck. The equipment had
Question 20 1.40845 points Save Answer a Previn Brothers Inc. traded a used equipment that cost $25,000 for a used pickup truck. The equipment had $15,000 accumulated depreciation. The pickup truck had a fair market value of $14,000. Previn Brothers also paid $1,000 to complete the transaction. The exchange was considered to have commercial substance. How much would be recorded as the cost of the newly acquired pickup truck? Do not enter $ signs or commas in your answer. Question 21 1.40845 points Save Answer Previn Brothers Inc traded a used equipment that cost $25,000 for a used pickup truck. The equipment had $15,000 accumulated depreciation. The pickup truck had a fair market value of $14,000. Previn Brothers also paid $1,000 to complete the transaction. The exchange was considered to have NO commercial substance. How much would be recorded as the cost of the newly acquired pickup truck? Do not enter $ signs or commas in your answer Show Ex
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