Business, 09.08.2019 18:10 a1supernut37owozkj

Charm co. owns a delivery truck with an original cost of $10,000 and accumulated depreciation of $7,000. charm acquired a new truck by exchanging the old truck and paying $2,000 in cash. the new truck has a fair value of $5,000 at the time of the exchange. what amount of gain or loss should charm recognize?

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