A company trades an old Web server for a new one. The cost of the old server is $30,000, and its accumulated depreciation at the time of the trade is $23, 400. The new server had a cash price of $45,000. Prepare the entries on December 31, 2014 to record the trade under two different assumptions where the company receives a trade-in allowance of (a) $3,000 and the exchange has commercial substance, and (b) $7,000 and the exchange lacks commercial substance. (a). Date Transaction PR Debit Credit (b) Date Transaction PR Debit Credit