Entries for trade offre On July 1. Twin Pines Co, a water discoured new botting equipment with a list price for market value of 5621.000 Twin Pines received a trade inowance is market value of 127.400 on the old one of a type paid cash of $493,600. The following information about the old equipment is obtained from the account in the equipment ledgercos, 5424,000: muted depreciation on December 31, the end of the preceding fiscale, 5277,200 annual depreciation, $25,200. Assuming that the exchange has comercial substance .. Journakze the entry to record the current depreciation of the old equipment to the date of trade in. Depreciation Expense-Equipment Accumulated Depreciation Equipment b. Journalire the entry to record the exchange transaction on July 1. If an amount box does not require an entry, leave it bank Accumulated Depreciation Equipment Equipment Lesson Exchange of Equipment Equipment Cash