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10-16 Journalize entries for the exchange of plant assets. (SO 10), AP Jaxin's Delivery Company and Felicity's Express Delivery exchanged delivery trucks on January 1,

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10-16 Journalize entries for the exchange of plant assets. (SO 10), AP Jaxin's Delivery Company and Felicity's Express Delivery exchanged delivery trucks on January 1, 2012. Jaxin's truck cost $22,000. It has accumulated depreciation of $15,000 and a fair value of $4,000. Felicity's truck cost $10,000. It has accumulated depreciation of $8,000 and a fair value of $4,000. The transaction has commercial substance

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