Nonmonetary exchange Happy Equipment exchanged Building 30 which has an appraised value of $7.250,000, a cost of $11,850,000, and accumulated depreciation of $5,625,000 for Building K belonging to Grin Machines. Building K has an appraised value of $6,850,000, a cost of $14.190,000, and accumulated depreciation of $7,750,000. Happy also received $400,000 in cash from Grin Machine. Assume depreciation has already been updated. Instructions Prepare the entries on both companies' books assuming the exchange had no commercial substance. Show a check of the amount recorded for Building M on Happy's books. (Round to the nearest dollar.)