9. PPE trade-off transactions] (15%) A- firm trades its old house for new PPE with B firm, C firm, D firm, and E firm. We find that (A, C) (A, D) exchanges have not commercial substance, but (A, B) (A, E) exchanges have commercial substance. If market value of PPE assets are not equal, the exchange transaction will use cash to compensate. COST Accumulated Depreciation Market Value A Firm(house) B Firm (machine) C Firm (truck) 160,000 80,000 120,000 45,000 147,000 72,000 D Firm (offical equipment) E Firm (land) 160,000 130,000 75,000 0 92,000 72,000 92,000 107,000 185,000 Instructions: (1)Describe what is the definitions of commercial substance under IFRS ? (2)Prepare journal entries only for A-firm to record transactions for the exchange of PPE between (A, B) (A, C) (A, D) (A, E).