3.) Nonmonetary exchanges. 2 Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings. The following transactions occurred in 2018: 9 March 31, 2018- Negotiations which began in 2017 were completed and a building purchased 1/1/09 (depreciation has been properly charged through December 31, 2017) at a cost of $9,600,000 with a fair value of $6,000,000 was exchanged for a second building which also had a fair value of $6,000,000. The exchange had no commercial substance. Both parcels of land on which the buildings were located were equal in value, and had a fair value equal to book value. June 30, 2018-Machinery with a cost of $1,080,000 and accumulated depreciation through January 1 of $810,000 was exchanged with $675,000 cash for a parcel of land with arfair value of $1,040,000. The exchange had 0 commercial substance. Instructions Prepare all appropriate journal entries for Moore Corporation for the above dates