Excellent Suppliers Limited had a Kia delivery van which they purchased for R378 000 on 1 January 2018. It was estimated that the Kia delivery van will have a residual value of R30 000 at the end of its useful life of 4 years. On 31 December 2020, Excellent Suppliers Limited exchanged the Kia delivery van plus R200 000 cash with Mbona Motors Limited for a 2020 Ford Ranger bakkie. On 31 December 2020 the details of the exchanged vehicles are given below: Kia delivery van: Fair value R200 000 2020 Ford Ranger bakkie: Fair value R310 000