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Alamos Co. exchanged equipment and $18,600 cash for similar equipment. The book value and the...

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Accounting

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Alamos Co. exchanged equipment and $18,600 cash for similar equipment. The book value and the fair value of the old equipment were $80,100 and $92,000, respectively. Assuming that the exchange lacks commercial substance, Alamos would record a gain/(loss) of: Multiple Choice $ 11,900. $(11,900). $30,500. $0

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