Grouper Company traded a used welding machine (cost $12,780, accumulated depreciation $4,260 ) for office equipment with an estimated fair value of $7,100. Grouper also paid $4,260 cash in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)