a)Exchanged a piece of equipment with a $50,000 original cost, $20,000 book value, and $30,000 fair value for a piece of similar equipment owned by Linus Electric, which had a $60,000 original cost, $10,000 book value, and a $30,000 fair value. Transaction has commercial substance. Transaction recorded as a Debit to buildings and equipment for 10K, and a credit to Gain on exchanges for 10K. Make correct entry and adjusting entry