Cedric Company recently traded in an older model computer for a new model. The old models book value was $323,000 (original cost of $673,000 less $350,000 in accumulated depreciation) and its fair value of the old equipment is $300,000. Cedric paid $73,000 to complete the exchange which has commercial substance. Required: Prepare the journal entry to record the exchange. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)