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Hello! please answer all parts to the question clearly please its sometimes hard to understand the experts please thank you! provide the answer TO EACH

Hello! please answer all parts to the question clearly please its sometimes hard to understand the experts please thank you!
provide the answer TO EACH QUESTION CLEARLY please!!!
PLEASE CLEARLY LABLE THE ANSWER
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24 3.57 points eBook Print References The Bronco Corporation exchanged land for equipment. The land had a book value of $122,000 and a fair value of $154,000. Bronco paid the owner of the equipment $12,000 to complete the exchange which has commercial substance. Required: 1. What is the fair value of the equipment? 2. Prepare the journal entry to record the exchange. Complete this question by entering your answers in the tabs below. Required 1 What is the fair value of the equipment? Fair value Required 2 C Required Required 2 >

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