On March 1, year 1, Marvin Corporation promises to unconditionally transfer a building that cost $125,000with an appraised value of $175,000 to Valerie Corporation on March 1, year 2 for a vehicle that wasrecently purchased for $140,000. As of December 31, year 2, Marvin Corporation has not transferred titleto the building. Marvin Corporation received the vehicle. How should Marvin Corporation and ValerieCorporation record these transactions?

In a minimum of 5 to 7 sentences, describe your initial thoughts regarding the case and the challenges you feel you will face with regards to the depth and complexity of the issues that will be addressed.