Dodd Delivery Company and Hess Delivery Company exchanged delivery trucks on January 1, 2011. Dodd s truck cost $84,000, had accumulated depreciation of $69,000, and has a fair market value of $9,000. Hess s truck cost $63,000, had accumulated depreciation of $54,000, and has a fair market value of $9,000. Instructions (a) Journalize the exchange for Dodd Delivery Company. (b) Journalize the exchange for Hess Delivery Company
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