FP PJ AWA E-EE. E - 21 AaBi AaBb AaBbCcDa AaBBCCD 1 A #10 P3. Hawk, Inc. exchanged its truck with a van that Seabird co. owned on 10/1/2019. The following information pertains to the truck and the van: Hawk's Truck Seabird's Van Costa $70,000, Cost = $50,000 Accumulated depreciation = 30,000 A/D= 10,000 Fair Market value = 450,000 Fair Market value= 30,000. Seabird paid cash of $20,000 to Hawk, additionally. Instructions: Prepare any necessary journal entries for Hawk and Seabird if it is an exchange without commercial substance. b. If it is an exchange with commercial substance. a