Blossom Football Club had a player contract with Mowgli that is recorded in its books at $337000 on July 1, 2023. Ivory Coast Football Club had a player contract with Eeyore that is recorded in its books at $385000 on July 1, 2023. On this date, Blossom traded Mowgli to Ivory Coast for Eeyore and paid a cash difference of $38500. The fair value of the Eeyore contract was $524000 on the exchange date. After the exchange, the Eeyore contract should be recorded in Blossom's books at $385000. $485500. $346500. $524000.