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Cullumber Limited exchanged equipment that it uses in its manufacturing operations for similar equipment that...

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Accounting

Cullumber Limited exchanged equipment that it uses in its manufacturing operations for similar equipment that is used in the operations of Riverbed Limited. Cullumber also paid Riverbed $2,900 in cash. The following information pertains to the exchange.
\table[[,Cullumber,Riverbed],[Equipment (cost),$50,000,$56,500
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