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Business, 11.07.2019 23:50 jumana3

On september 3, 2018, the robers company exchanged equipment with phifer corporation. the facts of the exchange are as follows: robers’ asset phifer’s asset original cost $ 200,000 $ 220,000 accumulated depreciation 119,000 127,000 fair value 99,000 78,000 to equalize the exchange, phifer paid robers $21,000 in cash. required: record the exchange for both robers and phifer. the exchange has commercial substance for both companies. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

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On september 3, 2018, the robers company exchanged equipment with phifer corporation. the facts of t...
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