On July 1, brick Company exchanged a machine for a similar machine owned by tarsal Company and received $7,000 cash from tarsal Company. bricks machine had an original cost of $80,000, accumulatec depreciation to date of $14,500, and a fair market value of $60,000. tarsal machine had an original cost of $95,000 and a book value of $45,000 and a fair value of $53,000 Prepare journal entries by brick company to record this transaction Prepare journal entries by tarsal company to record this transaction