Concord Company traded a used welding machine $($cost $$9,900,$ accumulated depreciation $$3,300)$ for office equipment with an estimated fair value of $$5,500.$ Concord also paid $$3,300$ cash in the transaction.

Prepare the journal entry to record the exchange. $($The exchange has commercial substance$),($Credit occount titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries$)$

Account Titles and Explanation

Debit

Credit