CD Company has a truck that it wants to sell. The truck had an original cost of $60,000, was purchased three years ago, and was expected to have a useful of six years with no salvage value. Using straight-line depreciation and assuming that depreciation expense for three full years has been recorded, prepare journal entries to record the disposal of the truck under each of the following independent conditions:

(1)CD Company sells the truck for $20,000 cash.

(2)The old truck is wrecked and CD Company hauls it to the junkyard.

(3)CD Company exchanges the old truck with FG Company for another car. Assuming that this exchange has commercial substance, the fair value of the old truck is $32,000. Besides, CD Company paid $2,000 cash to FG Company to acquire the printer.

(4)CD Company exchanges the old truck with FG Company for another car. Assuming that this exchange does not have commercial substance, the fair value of the old truck is $32,000. Besides, CD Company paid $2,000 cash to FG Company to acquire the printer.