Chandler Corporation was involved in two exchanges of equip in exchange exchanges similar equipment in both details on the exchanges are given lved Assume the sells such equipment. The exchanges. The other company below Substance. $120,000 $100,000 Cost of equipment traded 70,000 Accumulated eciation on equipment 46,500 85,000 Exchange one. 60,000 13500 Fair value of equipment traded 13,500 Cash Cash received $150,000 Exchange Two. traded 80,000 Cost of equipment on equipment 23,000 ulated depreciation 177,000 Fair value equipment traded Cash Cash received one. A. Prepare Chandler's journal entry for exchange Rose (dealer) $140,000 200,000 177,000