Jeudy Company acquired new machinery by trading in used machinery. The exchange lacks commercial substance. Facts concerning the trade-in are as follows: Cost of machinery traded away - "Machinery (old)" $224,000 Accumulated depreciation to date of sale 100.000 Fair value of machinery traded away 190,000 Cash received 28,500 Fair value of machinery acquired - Machinery (new)" 161.500 Provide the journal entry Jeudy should make to account for this exchange involving "Machinery (new)