15. England Ltd has completed the following transaction related to non-current assets in the reporting period ended 31 March 2019. England Ltd uses the straight-line depreciation method on all depreciable assets and records depreciation to the nearest month. July 30 Exchanged a tractor that originally cost $150,000 and had accumulated depreciation to the date of exchange of $70,000, for a new similar tractor (with a useful life of 15 years and no residual value). A trade-in allowance of $35,000 was received for the old tractor and $125,000 was paid in cash for the new tractor. October 2 Purchased a new storage shed for a cash price of $12,000. Freight charges of $1,500 and installation expenditure of $2,500 were also paid in cash. The storage shed has a useful life of 9 years and a residual value of $3,500. November 3 Purchased a motor vehicle for $17,000 cash. The engine was replaced at a cost of $5,500, and $800 was paid for day to day repairs and maintenance. The motor vehicle has a useful life of 4 years and a residual value of $3,200. March 31 Recorded depreciation expense on the above assets for the year. Required: Prepare the required journal entries for the above transactions. Narratives are not required. Ignore GST. Show supporting calculations