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19 July, 18:19

Amble, inc., exchanged a truck with a carrying amount of $12,000 and a fair value of $20,000 for another truck and $5,000 cash. the fair value of the truck received was $15,000. the exchange was not considered to have commercial substance. at what amount should amble record the truck received in the exchange?

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  1. 19 July, 19:18
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    The answer is 15,000
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