Cedtic Company recently traded in an older model of equipment for a new model. The old model's book value was $333,000 (original ost of $723,000 less $390,000 in accumulated depreciation) and its fali value was $370,000. Cedric pald $77,000 to complete the xichange which has commercial substance. Required: Prepare the joumal entry to record the exchange. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the exchange of assets. Nohe Enter deties betore credes