Crane Inc. has negotiated the purchase of a new piece of automatic equipment at a price of $8,160 plus trade-in, fo.b. factory. Crane Inc. paid $8.160 cash and traded in used equipment. The used equipment had originally cost $63,240; it had a book value of $42,840 and a secondhand fair value of $48,756, as indicated by recent transactions involving similar equipment. Freight and installation charges for the new equipment required a cash payment of $1.122 Prepare the general journal entry to record this transaction, assuming that the exchange has 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 O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Equipment Accumulated Depreciation-Equipment Gain on Disposal of Equipment List of Accounts Debit 58,038 20,400 Credit 5926 63240 9282 Assuming the same facts as in (a) except that fair value information for the assets exchanged is not determinable, prepare the general journal entry to record this transaction. (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 O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit Assuming the same facts as in (a) except that fair value information for the assets exchanged is not determinable, prepare the general journal entry to record this transaction. (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 O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit