How should valerie and miller record these transactions

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Question - On January 1, year 1, Miller Corporation promises to "unconditionally" transfer a building that cost $100,000 (appraised recently at $300,000) to Valerie Company on January 1, year 2 for a boat she bought for $250,000. As of December 31, year 2, Miller still has not transferred title to the building, although it received title to the boat. How should Valerie and Miller record these transactions?

Prepare a PowerPoint Presentation communicating your case facts, authoritative literature, recommendations, and conclusion. Please use the Notes section of the PowerPoint to communicate what you would be communicating verbally.

Reference no: EM133034080

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