Sunland Inc. and Carla Vista Co$.$ have an exchange with commercial substance. The asset given up by Sunland has a book value of

$$76000$ and a fair value of $$96000.$ The asset given up by Carla Vista has a book value of $$109000$ and a fair value of $$104000.$ Boot of

$$8000$ is received by Carla Vista.

Carla Vista's entry to record the exchange will include

O acredit to Equipment for $$109000.$

$$ a debit to Loss on Disposal for $$348.$

O adebit to Cash for $$8000.$

O acredit to Gain on Disposal for $$348.$