Navajo ASA traded a used truck (cost 20,000, accumulated depreciation 18,000) for a small computer worth 3,300.

Question:

Navajo ASA traded a used truck (cost €20,000, accumulated depreciation €18,000) for a small computer worth €3,300. Navajo also paid €500 in the transaction. Prepare the journal entry to record the exchange. The exchange has commercial substance.