Problem III: ( 9 points) Part A: On March 28, Marta Inc, sold land with a book value of $1,000,000 and a fair market value of $800,000 in exchange for $300,000 in cash and machinery worth $500,000, Prepare the journal entry Marta Ine should make to record the exchange of the machine and cash for the land, assuming the exchange has commereial substance ( 8 points) Part B: If the above exchange were deemed to have non-commercial substance, by what amount should the "Machinery" account be debited? (1 point) Answer: $