3. Tomas Company trades in a printing press for a newer model. The cost of the old printing press was $61,500, and on the date of the trade-in the total accumulated depreciation amounts to $38,000 and the fair market value is $20,000. The company also pays $41,200 cash for the newer printing press. The journal entry to acquire the new printing press will require a debit to Equipment for: A) $61,200. B) $64,700. C) $41,200. D) $61,500. E) None of the above