Bell Company and Kene Company exchanged trucks on January 1 2017. Bell's truck cost $140000 had accumulated depreciation of $115000 and has a fair value of $15000. Kene's truck cost $105000 had accumulated depreciation of $90000 and has a fair value of $15000.
Instructions
(a) Journalize the exchange for Bell Company.
(b) Journalize the exchange for Kene Company.
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