Addens Company traded in a truck that cost $90,000 and had $50,000 of accumulated depreciation on a new truck with a price of $120,000. The company received $45,000 trade-in for the old truck. The transaction is considered a like-kind exchange. Prepare the journal entry to record the transaction: Account ADDENS COMPANY GENERAL JOURNAL Debit Credit

Addens Company traded in a truck that cost $90,000 and had $0,000 of accumulated depreciation on a new truck with a price of $120,000. The company received $45,000 trade-in for the old truck. The transiction is considered a like-kind exchange. Prepare the journal entry to record the transaction