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Below ils information relative to an exchange of similar assets by Grand Forks Corp. Assume...

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Accounting

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Below ils information relative to an exchange of similar assets by Grand Forks Corp. Assume the exchange has commercial substance. Cash Book Value Fair value Paid 59,600 $15,000 old Equipment Case A $50,900 Case B $39,900 $35,200 8,300 In Case B, Grand Forks would record a gain/(loss) of: Multiple Choice $(3,600). $ 3,600

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