Bridgeport Company exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $31,300 (cost $60,300 less accumulated depreciation $29,000 ), Its fair value is $44,500, and cash of $7,600 is paid. Prepare the entry to record the exchange. (Ust all debit entries before credit entries. Credlt octount tities are outomatically indented wien amount is entered. Do not indent manualik. It no entry is required, select "No Entry" for the account tieles and enter Ofor the amounts include in your joumal entry separate account entries for both the new and old equlpment.)