Pops Corp. has agreed to exchange an old computer system for a van from Incline,Inc. In addition, Incline will pay Pops$2,000. The computer originally cost Pops $25,000 and its current book value is $14,000. The van's original cost was $30,000 and its accumulated depreciation is $12,000. The appraised value of the computer is $15,000, and the appraised value of the van is $13,000.
Required: Prepare the journal entries to record the exchange on both companies' books.