Del Piero Company exchanges its delivery trucks and $100,000 for similar type delivery trucks from Gerrard Company. For both companies, the future cash flows are not expected to change as a result of this exchange. Relevant information on the date of exchange is as follows:

Del Piero Company: Trucks (at cost):$400,000 Accumulated depreciation: 100,000 Fair market value: $400,000 Gerrard Company: Trucks (at cost): $600,000 Accumulated depreciation: 200,000 Fair market value: $500,000

i) How does Del Piero record the exchange?

ii) How does Gerrard record the exchange?