In 2018, Master Millwrights purchased a milling machine for $4.000, debiting Milling Equipment. During 2018 and 2019, Master recorded total amortization of $2,800 on the machine. In January 2020, Master traded in the machine for a new one with a fair market value of $3.725 paying $3,200 cash. This exchange transaction has commercial substance. Journalize Master Milwrights' exchange of machines on January 15 (Record debits first, then credits. Exclude explanations from Journal entries.) General Journal Accounts Debit Credit