Bremer Company made the following exchanges of assets during 2016:

Jan. 1	Acquired a more advanced machine worth $10,000 by paying $2,000 cash and giving up a machine that had originally cost $40,000 and has a book value of $12,000.
Feb. 1	Acquired a building worth $55,000 by paying $5,000 cash and giving up a piece of land that had originally cost $35,000.
Mar. 1	Acquired a more advanced machine worth $20,000 by paying $5,000 cash and giving up a machine that had originally cost $13,000 and has a book value of $11,000.
Apr. 1	Acquired a car by giving up a truck that had originally cost $20,000, has a book value of $15,000, and has a blue book value of $16,800. In addition, the company received $1,000 cash.

	Required:
	Prepare Bremers journal entry for each exchange. Assume all exchanges were determined to have commercial substance.

CHART OF ACCOUNTS Bremer Company General Ledger ASSETS REVENUE 111 Cash 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 171 Land 181 Building 184 Machine 186 Trucks 187 Cars 411 Sales Revenue 882 Gain on Exchange EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 892 Loss on Exchange 910 Income Tax Expense 198 Accumulated Depreciation LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings General Journal Prepare Bremer's journal entry for each exchange. Assume all exchanges were determined to have commercial substance. Unless otherwise indicated, assume the company makes all payments in cash PAGE 20 GENERAL JOURNAL ACCOUNT TITLE POST. REF DATE CREDIT