In a transaction that lacked commercial substance, castor company traded computer equipment with pollux company. castor company’s computer had a carrying value of $34,000. in exchange, castor company received pollux company’s computer, which had a fair value of $39,000, and $12,000 in cash. as a result of the exchange, what will castor company record as the computer acquired?
a. $51,000
b. $39,000
c. $29,000
d. $26,000.
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In a transaction that lacked commercial substance, castor company traded computer equipment with pol...
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