Regional Highway Transport is a large trucking company. Regional Highway Transport uses the units-of-production (UOP) method to depreciate its trucks. In 2009, Regional Highway Transport acquired a Mack truck costing $410,000 with a useful life of 10 years or 1,250,000 miles. Estimated residual value was $10,000. The truck was driven 85,000 miles in 2009, 110,000 miles in 2010, and 150,000 miles in 2011. After 10,000 miles in 2012, Regional Highway Transport traded in the Mack truck for a new Freightliner that costs $524,400. Regional Highway Transport received a $314,400 trade-in allowance for the old truck and paid the difference in cash. Journalize the entry to record the pur¬ chase of the new truck.