Orr Company traded in an automobile that cost \(\$ 18,000\) and on which \(\$ 15,000\) of up-to-date depreciation has been recorded for a new automobile with a cash price of \(\$ 34,500\). The company received a trade-in allowance (its fair value) for the old automobile of \(\$ 2,100\) and paid the balance in cash.

Record the exchange of automobiles.