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  3. 6.anoy, inc., exchanged a truck that cost $30,000

6.Anoy, Inc., exchanged a truck that cost $30,000 (now 50% depreciated) for another truck with...

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Accounting

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6.Anoy, Inc., exchanged a truck that cost $30,000 (now 50% depreciated) for another truck with a fair value of $25,000. Anoy paid cash of $6,000. If the exchange lacks commercial substance, Anoy should record the new truck at a. $25.000 b. $30,000 c. $21,000 d. $31,000

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