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Alamos Co. exchanged equipment and $17,200 cash for similar equipment. The book value and the...

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Accounting

Alamos Co. exchanged equipment and $17,200 cash for similar equipment. The book value and the fair value of the old equipment were $81,600 and $91,200, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of:

$9,600.

$0.

$(9,600).

$26,800.

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