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At what amount should anthony record the auto acquired

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Question - Matthew exchanged his business auto costing $15,000, book value $7,000, FMV $8,000 for an auto owned by Anthony costing $ 16,000, book value of $8,500, and FMV $9,000. This exchange does not culminated the earnings process. At what amount should Anthony record the auto acquired from Matthew? Show work.

Reference no: EM131724021

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