The Tinsley Company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas. Tinsley carried the land at its original cost of $30,000. According to an independent appraisal, the land currently is worth $72,000. Tinsley paid $14,000 in cash to complete the transaction.

Prepare the journal entry to record the exchange except that Tinsley received $18,000 in the exchange, and the exchange lacks commercial substance.

I need help finding those two values. Thank you.

Debit Credit General Journal No Event 58,500 Land-new Cash Land-old Gain 18,000 30,000 10,500