35 points MSN Company owns an old machine that cost $30 000, has annual depreciation expense of $6,000 and has accumulated depreciation of $15,000 on December 31, 2020 On April 30, 2021 when the machine has a fair value of $12,000, it was exchanged for a similar machine that worth $36 000 and the proper amount of cash is paid. The exchange lacks commercial substance Required: Prepare the necessary journal entries on April 30, 2021