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Alamos Co. exchanged equipment and $18,700 cash for similar equipment. The book value and the...

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Question

Accounting

Alamos Co. exchanged equipment and $18,700 cash for similar equipment. The book value and the fair value of the old equipment were $81,400 and $90,800, respectively. Assuming that the exchange lacks commercial substance, Alamos would record a gain/(loss) of:

$(9,400).

$ 9,400.

$ 0.

$28,100.

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