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At what amount should richmond record the truck received

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Problem - Richmond, lnc., exchanged a truck with a carrying amount of $14,400 and a fair value of $24,000 for another truck and $6,000 cash. The fair value of the truck received was $18,000. The exchange was not considered to have commercial substance. At what amount should Richmond record the truck received in the exchange?

Reference no: EM132898383

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