Country Critters had one vehicle on their books, a 2015 F250 Pick-up truck. The truck had seen better days and it is pretty beat up considering its age. Caitlyn was shocked that a dealership was interested in it and they offered a trade in value she couldn't refuse. The only catch would be she would need to buy a new truck from them. The old truck was purchased for $50,000 and had $41,666 of accumulated depreciation recorded on it. The fair value on the old truck was $3,000. The MSRP on a new 2020 F350 was 60,000. The trade in offered was $7,000, and Caitlyn paid the difference in cash (tax is included in the numbers provided). Prepare the journal entry for this exchange