asked 192k views
2 votes
Amble, inc., exchanged a truck with a carrying amount of $12,000 and a fair value of $20,000 for another truck and $5,000 cash. the fair value of the truck received was $15,000. the exchange was not considered to have commercial substance. at what amount should amble record the truck received in the exchange?

1 Answer

1 vote
the answer is 15,000
answered
User Janechii
by
7.3k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.