What is amount realized by roberts on the exchange

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Reference no: EM131263855

Roberts Company exchanged a truck used in its business for a new truck. The new truck was worth $58,000. Roberts company paid $5,000 in cash for the new truck and signed a note for $36,000 that is secured by the new truck. The dealer agreed to pay $11,000 that Robert as still owed on the old truck. What is the amount realized by Roberts on the exchange of the old truck?

Reference no: EM131263855

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