2. How should Bee record the gain/loss on exchange on its journal? Enter whether the gain/loss account should be debited or credited in box (1) and specify the amount in box (a). If the account is not included, enter "NA" in both boxes. (4 points total; 2 points each) Account titles Gain/loss on exchange- Column 1: Enter Debit or Credit (1) Column 2: Enter the amounts (a) ? ? Answer (1): A A (a): A Flower and Bee entered into an nonmonetary assets exchange. The trucks given up by Flower have a book value of $ 385,000 (cost $ 864,000 less accumulated depreciation $ 479,000) and a fair value of $ 452,000. The machines exchanged by Bee have a book value of $ 360,000 (cost $ 740,000 less accumulated depreciation of $380,000) and a fair value of $ 468,000. In addition to the exchange of the assets, Flower agrees to pay Bee $16,000. Assume that the exchange lacks commercial substance. Requirements (two requirements): 1. Record the exchange for Flower by indicating whether each account provided below should be debited or credited in boxes (1)-(4) of column (1); and specifying them amounts in boxes (a)-(d) in column (2). If the account is not included, enter "NA" in both columns. Be sure you provide answers to the right boxes. Answers for Cash have been provided as an example. (8 points total) Account titles Cash Machine Truck Accumulated depreciation- Gain/loss on exchange Column 1: Enter Debit or Credit Credit (1) ? (2) ? (3) ? Column 2: Enter the amounts 16,000 (a) (b) ? (c) ? (d)