Prepare the entry for both companies for this exchange

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Reference no: EM131211481

Using the following data, complete the task below.

Pittsburgh Company Philadelphia Company

Cost $500,000 Cost $100,000

A/D $450,000 A/D $70,000

Fair Value $30,000 Fair Value $60,000

Prepare the entry for both companies for this exchange.

Reference no: EM131211481

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