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record transaction On October 13 th , P 3 traded equipment costing $55,000 and a book value of $28,000 for office furniture with a fair

record transaction

On October 13th, P3 traded equipment costing $55,000 and a book value of $28,000 for office furniture with a fair value of $25,000. P3 also received $6,500 in cash from the furniture

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