Lea Company decided to exchange its equipment for a new one on March 10, 2020. The equipment had a cost of $15,000 and its accumulated depreciation at the disposal date was $11,000. To get the new equipment; the company paid $10,000 cash. The fair value of the old equipment is $4,500. What is the cost of the new equipment? * $14,500 $15,000 $16,000 None of the above Did the exchange of the equipment results a gain or loss? In what amount?* Gain $500 Loss $1,500 Loss $4,000 Loss $4,500 The exchange entry of the equipment will include a: * Debit old equipment $14,500 O O O Credit Cash $10,000 Credit gain $1,500 O None of the above