Coran's Delivery Company and Enright's Express Delivery exchanged delivery trucks on January 1, 2008. Coran's truck cost \($22,000.\) It has accumulated depreciation of \($15,000\) and a fair market value of \($4,000.\) Enright's truck cost \($10,000.\) It has accumulated depreciation of \($8,000\) and a fair market value of \($4,000.\) The transaction has commercial substance. 

Instructions

(a) Journalize the exchange for Coran's Delivery Company.

(b) Journalize the exchange for Enright's Express Delivery.