Accounting research: 1. explanation of steps please..

2. also...the app won't allow screen rotation anymore so please be mindful of that.

Case 2: On January 1, year 1, Miller Corporation promises to "unconditionally" transfer a building that cost $100,000 (appraised recently at $300,000) to Valerie Company on January 1, year 2 for a boat she bought for $250,000. As of December 31, year 2, Miller still has not transferred title to the building, although it received title to the boat. How should Valerie and Miller record these transactions? In a minimum of five to seven sentences, describe your initial thoughts regarding the case and the challenges that you feel that you will face with regards to the depth and complexity of the issues that will be addressed