Two independent companies, Sam and Brad, each own a warehouse, and they agree to an exchange. 

Sam's warehouse has a cost of $ 95,000, accumulated depreciation of $ 50,000, and fair value of $ 38,000.  Sam agrees to pay Brad $ 3,000 to complete the exchange.

Brad's warehouse has a cost of $ 50,000, accumulated depreciation of $ 20,000, and fair value of $ 40,000.

Assuming the exchange has commercial substance, provide the journal entries for Sam and Brad to record the exchange.