Ghana Football Club had a player contract with Mowgli that is recorded in its books at $300,000 on July 1, 2020. Ivory Coast Football Club had a player contract with Eeyore that is recorded in its books at $375,000 on July 1, 2020. On this date, Ghana traded Mowgli to Ivory Coast for Eeyore and paid a cash difference of $37,500. The fair value of the Eeyore contract was $450,000 on the exchange date. After the exchange, the Eeyore contract should be recorded in Ghanas books at

$450,000.

$375,000.

$412,500.

$337,500.