Feb. 1 Acquired a newer machine by paying $4,000 cash and giving up a machine that originally cost $40,000, has a book value of $25,000, and is worth $30,000. Feb. 1 Same facts as above (newer machine worth $30,000), except that the asset being surrendered has a book value of $33,000. Apr. 1 Acquired a newer machine by giving up a machine that originally cost $45,000, has a book value of $20,000, and is worth $32,000. In addition, $5,000 cash was received. Apr. 1 Same facts as above (machine with an original cost of $45,000), except that the asset being surrendered has a book value of $36,000. Jul. 1 Acquired a newer machine worth $90,000 by giving up a machine of equal value. The machine surrendered had originally cost $150,000 and has a book value of $80,000. Jul. 1 Same facts as above (new machine worth $90,000), except that the asset being surrendered has a book value of $94,000. Acquired a building in exchange for land that had originally cost $130,000 and is now worth $200,000. Oct. 1 Oct. 1 Same facts as above (acquired a building in exchange for land), except that $30,000 was paid. Same facts as above (acquired a building in exchange for land), except that $20,000 was received. Oct. 1 Required: 1. Prepare Bussell's journal entry to record each acquisition. Assume all exchanges were determined to have commercial substance. 2. Consider the July 1st acquisition where Bussell acquired a newer machine worth $90,000 by giving up a machine of equal value. The machine surrendered had originally cost $150,000 and has a book value of $80,000. Assume the exchange does not have commercial substance and prepare journal entries to record the exchange