E Question Equipment costing $120,000 has a ted depreciation of $97,000. The equipment is a trade- in for new equipment costing $190,000. f the trade - in value for the old equipment is $36,000, the journal entry to record this transaction is to: O A. debit Equipment (New) for $190,000, debit Accumulated Depreciation-Equipment for $97,000, credit Gain on Exchange of Assets for $13,000, credt Equipment (Old) for $120,000 and credit Cash for $154,000 O B. debit Equipment (New) for $190,000, and credit Cash for $190,000 O C. debit Equipment (New) for $190,000, debit Accumulated Depreciation Equipment for $97000, credit Equipment (Old) for $120,000 and credit Cash for O D. debit Equipment (New) for $190,000, debit Accumulated Depreciation - Equipment for $97,000, debit Loss on Exchange of Assets for $23,000, credit $167,000 Equipment (Old) for $120,000, credit Cash for $190,000