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QUESTION 5 {15 MARKS] Asset Ext: hange Apple Inc owns a manufacturing machine in Ipad Production Facility that costs $38,400 with accumulated depreciation of $20,400.

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QUESTION 5 {15 MARKS] Asset Ext: hange Apple Inc owns a manufacturing machine in Ipad Production Facility that costs $38,400 with accumulated depreciation of $20,400. They exchange the machine with Samsung [so they' can build their Galaxy:r Tablet} for a newer model that has a market value of $48.000. 1. Provide the General Journal entries recording the exchange assuming Apple paid $32,000 cash and the exchange has commercial substance. 2. Provide the General Journal entries recording the exchange assuming Apple pays $24,000 cash and the exchange lacks commercial substance

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