8. Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Assuming that the exchange has commercial substance, record the transaction: 9. On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: January 1, 2018 September 1, 2018 December 31, 2018 March 31, 2019 September 30, 2019 $ 300,000 $ 450,000 $ 450,000 $ 450,000 $ 300,000 Dreamworld had a $5,000,000 construction loan outstanding for the entire construction period. The rate on the construction loan was 12%. Dreamworld's capitalized interest in 2018 was