More info On January 1, 2017, Marmol acquired a plastic extruding machine at a cost of $448,000. This machine had an original estimated useful life of 12 years and a scrap value of $16,000. The machine was depreciated using the straight-line method. On August 1, 2022, Marmol exchanged the old machine for a similar asset with a market value of $238,400. Marmol also received cash of $59,600. The estimated fair value of the old machine is $298,000. The old machine was depreciated up to December 31, 2021. Print Done - X mework Question 22, E11-32 (similar to) O Points: 0 of 2 You have been asked to account for a plant asset exchange on the books of the Marmol Video Game Company. (Click the icon to view additional information.) Requirement Prepare the journal entry for Marmol to record the exchange as if the exchange had lacked commercial substance. Assume that the Marmol Video Game Company reports under IFRS. (Record debits first, then credits. Exclude explanations from any journal entries.) Account August 1, 2022 Sa