ABC Company , which manufactures shoes, hired a recent college graduate to work in its accounting department. On the first day of work, the accountant was assigned to total a batch of invoices with the use of an adding machine. Before long, the accountant, who had never before seen such a machine, managed to break the machine. ABC Corporation gave the machine plus 420 to XYZ Business Machine AG (dealer) in exchange for a new machine. Assume the following information about the machines: Old machine New machine Machine Cost 290 300 Accumulated deprecation 140 Fair value 100 520 Instructions For each company, prepare the necessary journal entry to record the exchange. (The exchange has commercial substance.) a- From buyer perspective 50 marks b- From seller perspective 50 marks