Part 2: Chapter 10, Acquisition, Valuation and Disposal Question 3: Non-Monetary Exchanges (12 Points) (A) Jill Co. exchanges an old Machine for a new Machine. The old Machine was originally bought for $300,000 and had accumulated depreciation at the time of sale of $75,000. At the time of the exchange the old machine has a fair market value of $200,000. Jill Co. received a new machine as well as $50,000 in cash. The exchange has commercial substance. What journal entry would Jill Co. record at the time of the sale? Provide journal entry here: Show your work for Part 2, Question 3 (A) here (or submit paperwork to me via email after the exam): (B) Assume the same facts as above, except that the accumulated depreciation at the time of the sale was $175,000 (instead of $75,000). Thus: Jill Co. exchanges an old Machine for a new Machine. The old Machine was originally bought for $300,000 and had accumulated depreciation at the time of sale of $175,000. At the time of the exchange the old machine has a fair market value of $200,000. Jill Co. received a new machine as well as $50,000 in cash. The exchange has commercial substance. What journal entry would Jill Co. record at the time of the sale? Provide journal entry here: Show your work for Part 2, Question 3 (B) here (or submit paperwork to me via email after the exam):