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Martinez Corporation traded a used truck (cost $27.200, accumulated depreciation $24.480) for a small computer with a fair value of $4,488 Martinez also paid $680

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Martinez Corporation traded a used truck (cost $27.200, accumulated depreciation $24.480) for a small computer with a fair value of $4,488 Martinez also paid $680 in the transaction. Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts: Debit Credit Account Titles and Explanation 3400 mer 26480 Amated Depreciation Trucks 27200 1088 Trucks

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