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How much was the amount paid to complete the transaction

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Reference no: EM133118218

Question - Zhane Company exchanged a car from its inventory for a computer system to be used in its technological upgrading project. The following information relates to this exchange that took place on July 16, 2021. Listed selling price of the car-900,000

FV of the computer system-860,000

Carrying amount of the car-600,000

If Zhane Company recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction?

Reference no: EM133118218

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