DILYO MTU Water Bill B Sign in to your Saved Old World Pizza has a plece of land which is not a great location for their restaurant so they exchange this land for a better plece of land so they can build a new restaurant Old World Pizza reported the old land at its original cost of $81,000. According to an Independent appraisal, the old land currently is worth $113,000. Old World Pizza pald $14,000 in cash to complete the transaction 1. Record the exchange. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the exchange. Note Enter debits before credits Debit Credit General Journal Transaction View general Record entry Type here to search