Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings. The following transactions occurred in 2011: March 31, 2011 Negotiations which began in 2010 were completed and a warehouse purchased 1/1/02 (depreciation has been properly charged through December 31, 2010) at a cost of $3,200,000 with a fair market value of $2,000,000 was exchanged for a second warehouse which also had a fair market value of $2,000,000. The exchange had no commercial substance. Both parcels of land on which the warehouses were located were equal in value, and had a fair value equal to book value. June 30, 2011 Machinery with a cost of $240,000 and accumulated depreciation through January 1 of $180,000 was exchanged with $150,000 cash for a parcel of land with a fair market value of $230,000. Instructions Prepare all appropriate journal entries for Moore Corporation for the above dates