Brief Exercise 7-11 Account for the exchange of long-term assets (LO7-6)

China Inn and Midwest Chicken exchanged assets. China Inn received a delivery truck and gave equipment. The fair value and book value of the equipment were $15,000 and $10,200 (original cost of $31,000 less accumulated depreciation of $20,800), respectively. To equalize market values of the exchanged assets, China Inn paid $7,200 in cash to Midwest Chicken.

1. At what amount did China Inn record the delivery truck?