Carla Vista Inc. and Sandhill Co. have an exchange with commercial substance. The asset given up by Carla Vista has a book value of $76000 and a fair value of $96000. The asset given up by Sandhill has a book value of $121000 and a fair value of $115000. Boot of $19000 is received by Sandhill.

Sandhill's journal entry to record the exchange will include

a. a debit to the asset account for $121000

b. a credit to the asset account for $76000

c. a debit to Loss on Disposal of $6000

d. a debit to Cash of $6000