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To equalize the exchange, Phifer paid Robers $17,000 in cash. Required: Record the exchange for both Robers and Phifer. The exchange has commercial substance for

image text in transcribed To equalize the exchange, Phifer paid Robers $17,000 in cash. Required: Record the exchange for both Robers and Phifer. The exchange has commercial substance for both companies. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field

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