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In 2020, Staged Home Lid completed the following transactions involving delivery trucks July 5 Traded in an old truck and paid $15,600 in cash for furniture. The accounting records on July 5 showed the cost of the old truck at $45,000 and related accumulated depreciation of $7,500. The furniture was estimated to have a six-year life and a 58,668 trade-in value. The invoice for the exchange showed these items Price of the furniture (equal to its fair value) Trade-in allowance Total paid in cash $ 51,100 32,500) $ 15,600 Dec. 31 Recorded straight-line depreciation on the furniture (to nearest wolt month) Required: Prepare journal entries to record the transactions View transaction list Journal entry worksheet + Record the exchange Dec. 31 Recorded straight line depreciation on the furniture (to marest whole month) 1 Required: Prepare journal entries to record the transactions View transaction list po Door Journal entry worksheet Print 1 2 Record the exchange General Journal De Date y 05 2020 16 Next >