Prepare the entry for both companies for this


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.

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Financial Accounting: Prepare the entry for both companies for this
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