Walnut Grove Railway, a transportation company, has substantial investments in property, plant and equipment. In 2020, the company exchanged some of these assets with other companies. [Note: any depreciation expense prior to the following transaction has already been properly recorded.] a) Walnut Grove Railway traded railway tracks running Calgary-Saskatoon -Winnipeg to its competitor, Pommery Railway, in exchange for the Calgary-Regina-Winnipeg route. Walnut Grove Railway received $17 million from Pommery Railway because the northern route was shorter. Aside from this $17 million differential, there are no other significant differences in the amount, risk, and timing of future benefits from these two sets of tracks. The tracks, originally laid down in the late 19th century, had a cost of $100 million, accumulated depreciation of $30 million, and a fair value of $145 million. The Calgary-Regina-Winnipeg tracks were recorded on Pommerys books at a cost of $130 million and accumulated depreciation of $98 million. Required: Record the journal entry for the above transaction on Walnut Grove Railway's books.State your reason(s) for the chosen accounting method.(5 marks) b) Walnut Grove Railway is trying to expand its business in transportation beyond rail, so the company traded some railcars in return for several trucks. On Walnut Grove Railway's books, the railcars had a cost of $11 million, accumulated depreciation of $7 million, and fair value of $6 million. The trucks had a fair value of $11 million and were recorded on the seller's books at a cost of $7 million and accumulated depreciation of $5 million. No cash was involved in this exchange. Required: Record the journal entry for the above transaction on Walnut Grove Railway's books. State your reason(s) for the chosen accounting method.(6 marks