Transaction $2$

Penaga Indah acquires a new vehicle through an exchange transaction. The old vehicle cost

RM$138,000,$ and the accumulated depreciation of RM$48,000$ was exchanged for a new vehicle

with a payment of RM$47,000.$ The fair value of the old vehicle is RM$98,000.$

Required:

Prepare the journal entry to record the above transaction, assuming the exchange has a

commercial value.