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U(1J W KS) Part a) DJ Serena Wu is an up and coming 1, 2016. This equipment set consists o stand-alone prices of $8,000, S4,80 "and coming artist in Fort Langley. She bought her equipment on January consists of a turntable, Sony speakers and a DJ mixer, which have 0.000, S4,800 and $3,200 respectively. Serena negotiated to buy this package at a total cost of $10,000. equipment set as a bundled package at a total cost of Required: 1. Record the purchase of these PP&E assets on January 1, 2010 Part b) In the summer of 2020, Local Club owner Brent the Langley community, offers to take DJ Serena's Sony speakers speakers. In addition to the trade-in of Sony speakers, Serena also pays deal. At this time the market value of the so value of the Bose speakers is $7.000. At the time of disposal, the Sony speak accumulated depreciation of $1,464. Local Club owner Brent Groen, who provides high-end DJ equipment to W Serena's Sony speakers in exchange for new Bose ony speakers, Serena also pays $5,000 cash to close the e market value of the Sony speakers is estimated to be $1,500 and the market he time of disposal, the Sony speakers have Required: 2. Record the purchase of the Bose speakers on DJ Serena's books (assume that the exchange has commercial substance). 3. Briefly discuss the accounting practice for non-monetary transactions that have no commercial substance. How would the asset received from the exchange be recorded, and how to record the gain or loss resulting from the exchange

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