Minty Inc. exchanged a large warehouse $($fair value of $$1,300,000$; original cost of $$2,000,000$; accumulated depreciation of $$950,000)$ for a warehouse that belonged to Green Ltd$.$ The warehouse from Green has a fair value of $$1,400,000,$ original cost of $$2,600,000,$ and accumulated depreciation of $$1,450,000.$ All amounts have been updated to the date of the exchange. In addition to the equipment, Green paid Minty $$50,000$ as part of the exchange.

Required:

Prepare the journal entry for Minty Inc., assuming that the exchange lacks commercial substance.