Kelsey Co. exchanged Building 26 which has an appraised value of $4,800,000, a cost of$7,590,000, and accumulated depreciation of $3,600,000 for Building K belonging to DinoCo. Building K has an appraised value of $4,512,000, a cost of $9,030,000, andaccumulated depreciation of $4,752,000. The correct amount of cash was also paid.Assume depreciation has already been updated.InstructionsPrepare the entries on both companies’ books assuming the exchange had no commercialsubstance. Show a check of the amount recorded for Building K on Kelsey’s books. (Round to thenearest dollar.)