During 2024, Dora Company completed the following transactions: Record the transactions in the journal of Dora Company. Jan. 1 Traded in old office equipment with book value of $64,000 (cost of $158,000 and accumulated depreciation of $94,000 ) for new equipment. Dora also paid $75,000 in cash. Fair value of new equipment is $145,000. Assume the exchange had commercial substance. Apr. 1 Sold equipment that cost $42,000 (accumulated depreciation of $36,000 through December 31 of the preceding year). Dora received $1,100 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 expense as follows: Office equipment is depreciated using the double-declining-balance method over four years with a $3,000 residual value