This is a case of acquisition of a machinery by exchange. In the books of LEI (payor) machinery would be debited at what amount? LEI Machinery Accumulated depreciation Carrying amount Fair value Cash paid by Lei Assume that the exchange transaction lacks commercial substance. LOI 2,400,000 3,000,000 1,350,000 2,025,000 1,050,000 975,000 900,000 1,200,000 300,000