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X Co. exchanged land and cash of $5,000 for equipment. The book value of the land was $90,000. The fair value of the land was

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X Co. exchanged land and cash of $5,000 for equipment. The book value of the land was $90,000. The fair value of the land was $100,000. X would record: O Loss of $10,000 O Gain of $10,000 O Loss of $5,000 O $0

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