ABC Company exchanged a number of used trucks plus cash for a semi-truck. The used trucks have a combined book value of $40,000 (cost $61,000 less $21,000 accumulated depreciation). ABCs purchasing agent, experienced in the second-hand market, indicates that the used trucks have a fair market value of $48,000. In addition to the trucks, Interstate must pay $10,000 cash for the semi-truck.

Prepare the Journal entry for the exchange, if there is commercial substance and if no commercial substance.