During 2014, Mora Corporation completed the following transactions: Jan. 1 Traded in old office equipment with book value of $40,000 (cost of $132,000 and accumulated depreciation of $92,000) for new equipment. Mora also paid $80,000 in cash. Fair value of new equipment is $122,000. Assume the exchange had commercial substance. Apr. 1 Sold equipment that cost $30,000 (accumulated depreciation of $25,000 through December 31 of the preceding vear). Mora received $2,000 cash from the sale of the equipment. Depreciation is computed on a straight-line basis. The equipment has a 5-year useful life and a residual value of $0. Dec. 31 Recorded depreciation as follows: Office equipment is depreciated using the double-declining-balance method over four years with a $1,000 residual value. Record the transactions in the journal of Mora Corporation