*E9-18 Presented below are two independent transactions. Both transactions have com- mercial substance. 1. Global Co. exchanged old trucks (cost 64,000 less 22,000 accumulated depreciation) plus cash of 17,000 for new trucks. The old trucks had a fair value of 37,400. 2. Rijo Ltd. trades its used machine (cost 12,000 less 4,000 accumulated depreciation) for a new machine. In addition to exchanging the old machine (which had a fair value of 9,000), Rijo also paid cash of 3,200. Instructions (a) Prepare the entry to record the exchange of assets by Global Co. (b) Prepare the entry to record the exchange of assets by Rijo Ltd