During 2018, Lenora Corporation completed the following transactions: (Click the icon to view transactions.) Record the transactions in the journal of Lenora Corporation. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 1 Traded in old office equipment with book value of $35,000 (cost of $129,000 and accumulated depreciation of $94,000) for new equipment. Lenora also paid $80,000 in cash. Fair value of new equipment is $117,000. Assume the exchange had commercial substance. Apr. 1 Sold equipment that cost $12,000 (accumulated depreciation of $3,000 through December 31 of the preceding year). Lenora received $6,600 cash from the sale of the equipment. Depreciation is computed on a straight-line basis. The equipment has a five-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 $2,000 residual value