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Check my work The Bronco Corporation exchanged land for equipment. The land had a book value of $136,000 and a fair value of $182,000. Bronco paid the owner of the equipment $26,000 to complete the exchange which has commercial substance 10 points Required 1. What is the fair value of the equipment? 2. Prepare the journal entry to record the exchange. Complete this question by entering your answers in the tabs below eBook Print Required 1 Required 2 What is the fair value of the equipment? Fair value References Requlred 1 Required 2 >

Check my work Required 1 Required 2 Prepare the journal entry to record the exchange. (If no entry is required for a transaction/event, select No journal ent the first account field.) 10 points View transaction list 01:48:40 Journal entry worksheet eBook Print References Record the entry of exchange of assets. Note: Enter debits before credits, Event General Journal Debit Credit <Prev 11 of 17… Next>

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Check my work The Bronco Corporation exchanged land for equipment. The land had a book value...
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