willy Inc. and jota Company have an exchange with no commercial substance. The asset given up by willy has a book value of 120,000 and a fair value of 135,000. The asset given up by Jota has a book value of 220,000 and a fair value of 200,000. Boot of 65,000 is received by Jota. The journal entry made by Jota to record the exchange will include O a. a debit to Loss on Exchange for 20,000 O b. a credit to Cash for 65,000 . a credit to Equipment for 200,000. O d. a debit to Gain on Exchange for 20.000