a machine cost $240,000 has annual depreciation expense of $48,000 and has accumulated depreciation of $120,000 on December 31,2014. On april1, 2015 when the machine has a fair value of $96,000 it is exchanged for a similar machine with a fair value of $288,000 and the proper amount of cash is paid. the exchange lacked commercial substance. prepare all entries that are necessary at April1, 2015