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In January 2018. Larry's Catering purchased a portable food heater for $4,000 cash. The journal entry to record the purchase included a debit to Catering

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In January 2018. Larry's Catering purchased a portable food heater for $4,000 cash. The journal entry to record the purchase included a debit to Catering Equipment During 2018 and 2019. Larry's Catering recorded total amorization of 51.800 on the heater On January 2, 2020. Larry's Catering traded in the old food heater for a new one that is more efficient, paying $2 850 cash and accepting $650 for the trade-in This exchange transaction commercial substance Journalize Larry's Catering's exchange of equipment. Complete the journal entry below. (Record debits first, then credits. Exclude explanations from journal entries.) General Journal Date Accounts Debit Credit Jan 2

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