Question 13 (8 marks) Big City Corporation received a parcel of undeveloped land from Clipper Inc in exchange for $45,000 cash and a second-hand 10-ton truck used in delivery. Below are the details of the exchange: Historical Cost of truck $50,000 Accumulated depreciation of truck 12,000 Fair market value of truck 42,000 Fair market value of land (based on a professional appraisal) 88,000 Cash paid 45,000 Required: a Does this transaction a. oear to have commercial substance? Ex-lain. 3 marks b) Based on your answer above, prepare the journal entry to record the exchange of assets