On March 24, 2006, Wildwood Village sold to a scrap dealer for $40,000 an old fire engine with a cost of $200,000 and carrying amount of $20,000 in Wildwood’s general capital assets account group. The $40,000 cash was received by Wildwood’s general fund, which simultaneously acquired another fire engine for $450,000 cash, compared with the $446,000 amount of the purchase order that had been issued on February 10, 2006. The village uses encumbrance accounting and a general capital assets account group.

Prepare journal entries (omit explanations) for Wildwood Village’s general fund and general capital assets account group on March 24, 2006 only.