Brown's Delivery Company and Roether's Express Delivery exchanged similar delivery trucks on January 1. 2006. Brown's truck cost S22.OO0. It has accumulated depreciation of SI 3.000 and a fair market value of $4,000. Roether's truck cost S10.000. It has accumulated depreciation of $7,000 and a fair market value of S4.000.

Instructions

(a) Journalize the exchange for Brown's Delivery Company.

(b) Journalize the exchange for Roether's Express Delivery.