Task $1\mathrm{.}2$: On September $12,$ Olympia Construction trades a truck with the historical cost of $$24000$ and a fair market value of $$18000$ for a cement cutter. The cement cutter belonged to Chi Brothers Construction and had a historical cost of $$22000$ and a fair market value of $$18000.$

Record the transaction for Olympia Construction.

Record the transaction for Chi Brothers Construction. Task $1\mathrm{.}3$: On July $25,$ Ahmed Lecaj bought land for his business. The land cost $$60000.$ To ready the land for use, Ahmed had to pay for landscaping, $$40000$; drainage and sewers, $$30000$; inspection,

$$5000$; real estate commission, $$10000$; and legal fees, $$500.$ Record the purchase of the land. Chart of Accounts

Cash

Land

Equipment

Equipment $-$ Cement Cutter

Building

Truck

Accounts Payable

Loss on Disposal of Truck

Loss on Disposal of Cement Cutter