Hoppie Company contracts with Bradford Company to exchange refrigerated trucks. Hoppie Company will trade three (Click the icon to view additional information.) Requirement Prepare the journal entry to record the exchange on the books of the Bradford Company. Assume that the exchange de the percentages to the nearest hundredth percent, X.XX%. Round your answer to the nearest dollar.) Accounts Cash SMC Trucks (New) Accumulated Depreciation-DROF Trucks DROF Trucks (Old) Gain on Exchange of Trucks Date of Exchange 14,800 41,551 53,400 110,000 pany to exchange refrigerated trucks. Hoppio Company will trade three SMC trucks for four DROF trucks owned by Bradford Company on) ge on the books of the Bradford Company. Assume that the exchange does not have commercial substance (Record debits frat, then credits. Exclude explanations from any journal entries. Round ont Xxx% Round your answer to the nearest dollar) Date of Exchange 14.800 41551 53.400 110,000 More info The DROF refrigerated trucks have a cost of $110,000 and accumulated depreciation up to the date of the exchange of $53,400. The trucks are approximately the same age and have the same remaining useful lives. The fair value of the SMC trucks is $51,900 with a book value of $37,200 (cost $65,200 less $28,000 accumulated depreciation). The DROF trucks have a fair value of $66,700 and Hoppie Company gives $14,800 in cash (paid) in addition to the SMC trucks. Print Done