In 2018, Global Millwrights purchased a milling machine for $4,300. debiting Milling Equipment. During 2018 and 2019, Global recorded total amortization of $2,800 on the machine. In January 2020, Global traded in the m for a new one with a fair market value of $3,900, paying $3,000 cash. This exchange transaction has commercial substance. Journalize Global Millwrights' exchange of machines on January 15 C... (Record debits first, then credits. Exclude explanations from journal entries.) General Journal Debit Credit 3.900 1,500 Accounts Milling Equipment (new) Accumulated Amortization (old) Loss on Exchange of Assets Milling Equipment (old) 600 4.300 3.000 Cash