11b) Smith Manufacturing Inc. exchanged a forklift for a truck acquired from Lima Equipment and Logistics Ltd. Smith also received a cash consideration of $13,000. Smith expects the future cash flows to change as a result of this transaction and, therefore, the exchange has commercial substance. The carrying value and fair value of the forklift and truck at the date of the exchange are as follows: Asset Cost Accumulated Depreciation Carrying Value Fair Value Forklift (asset given up) $66,000 $10,000 $56,000 $53,000 Truck (asset received) $52,000 $5,000 $47,000 $60,000 Prepare the journal entry for Smith to record the transaction.