[Anonymous]

Company A trades a year long subscription valued at $144 to Company B for a year long membership valued at $120. What would the initial JE be to set up the sale on Company A’s books? I’m getting tied up because the items being traded are services and not assets. Thanks.

[FAR_WARS]

membership asset 120

loss on exchange 24

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subscription liab 144

This is just my guess. Where is this question from?

FAR- 80
BEC- 75
AUD- 78
REG- ?

[Author]

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