A. Matti Auto traded one of its used storage trailers (cost $40,000, accumulated depreciation $36,000) with a fair value of $11,000 for a much newer trailer with a list price of $70,000. Matti also pays $20,000 cash. Prepare the journal entry to record the exchange using the fair value standard. Matti Auto uses IFRS. B. Assume that Matti Auto was tired of the camo paint colour of his old trailer (figures as above), so traded it for a similar used trailer painted red. Matti also paid $2,000 cash. Prepare the journal entry to record the exchange. C.McLane Company exchanged an old mobile home and $3,000 cash for two used delivery trucks. The mobile home had been purchased 10 years ago for $70,000 and has since been fully depreciated. While the mobile home was recently appraised at $12,000, a reliable valuation for the trucks was not available. You, as the junior accountant, will need to apply the rules for the exchange of assets to determine if the transaction has commercial substance. McLane Company uses IFRS. Prepare the journal entry to record the exchange. Ctrl)