3. Wendell Corporation exchanged an old truck and $25,500 cash for a new truck. The old truck had a book value of $6,000 (original cost of $25,000 less $19,000 in accumulated depreciation) and a fair value of $7,700. a. Prepare the journal entry to record the exchange. Assume the exchange has commercial substance. b. Prepare the journal entry to record the exchange assuming that the exchange lacks commercial substance