Mary Co. exchanged a piece of equipment that had cost $40,000 (now 75% depreciated) for a truck with a current appraised value of $18,000. Mary Co. gave the other company the piece of equipment and $10,000. Mary Co. should record
A) a $8,000 loss
B) the truck at $18,000
C) a gain of $10,000
D) the truck at $21,000
Correct Answer:
Verified
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