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Below is information relative to an exchange of equipment by Pensacola Inc Assume the exchange has commercial substance Old Equipment Cash Book Value Fair Value Received Case

Below is information relative to an exchange of equipment by Pensacola Inc. Assume the exchange has commercial substance. Old Equipment Cash Book Value Fair Value Received Case A $74,900 $81,500 $11,100 Case B $60,900 $54,000 $10,000 In Case B, Pensacola would record a gain/(loss) of:

May 21 2020 View more View Less

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