Coral Company exchanged equipment used in its manufacturing operations plus $224 in cash for similar equipment used in the operations of Salmon Company. Assume that the exchange has commercial substance. The following information pertains to the exchange. Coral Company Salmon Company Equipment (cost) $3,136 $ 3,136 Accumulated depreciation 2,128 1,120 Fair value of equipment 1,512 1,736 Cash given up 224 Instructions Prepare the journal entry to record the exchange on the book of Coral Company