1prepare the journal entry to record the purchase of the mack truck using the Ford truck as a trade in.Gandalf paid the appropriate amount of the cash for the remaining balance on the exchange 2 if Gandalf had not offered the Ford truck as a trade in ,what amount should have been recognized on the purchase of the mark truck?

Gandalf Engineering had a large Ford delivery truck it traded in for a new Mack truck. The relevant information concerning the two rucks, on May 15, 2021, the date of exchange, follows: Cost of old Ford truck $43.600 Accumulated depreciation of old Ford truck 33.900 List price of the new Mack truck 45.900 Trade-in allowance given on the exchange 14.000 Fair value of the old Ford truck 11,000