Coronado Corporation traded a used truck $($cost $$24,800,$ accumulated depreciation $$22,320)$ for a small computer with a fair value of

$$4,092.$ Coronado also paid $$620$ in the transaction.

Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance. $($Credit account 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

Credit

Equipment

Accumulated Depreciation $-$ Trucks