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Alamos Co. exchanged equipment and $18,000 cash for similar equipment. The book value and the...

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Accounting

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Alamos Co. exchanged equipment and $18,000 cash for similar equipment. The book value and the fair value of the old equipment were $81,400 and $91,400, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of: Multiple Choice O $10,000. O $(10,000). O $0. O $28,000

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