Question: Saved 4 Alamos Co . exchanged equipment and $ 1 8 , 3 0 0 cash for similar equipment. The book value and the fair

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Alamos Co. exchanged equipment and $18,300 cash for similar equipment. The book value and the fair value of the old equipment were $80,500 and $91,700, respectively.
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Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of:
Multiple Choice
$(11,200).
$29,500.
$11,200.
$0.
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Saved 4 Alamos Co . exchanged equipment and $ 1 8

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