Goodman Company acquired a truck from Harmes Company in exchange for a machine. The exchange is determined to have commercial substance. The machine cost $30,000, has a book value of $6,000, and has a market value of $8,500. The truck has a cost of $12,000 and a book value of $8,000 on Harmes books.

Goodman agrees to pay $500 to complete the exchange.

Prepare journal entries for Goodman and Harmes to record the exchange. Assume the exchange occurred on September 23.

two general journals 5 each please include dates