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Similar exchange no boot homework Tyler Inc. exchanged their computer system cost $ 4,300, book value $ 2,000, and FMV of $ 2,100 for Herman

Similar exchange no boot homework

Tyler Inc. exchanged their computer system cost $ 4,300, book value $ 2,000, and FMV of $ 2,100 for Herman Inc.s computer system which cost $ 5,000, book value of $ 2,500, and FMV of $ 3,000.

Instructions: Journalize the exchange entries for both companies.

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