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Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $3,300. Navajo also paid $500 in the transaction. Prepare

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Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $3,300. Navajo also paid $500 in the transaction. Prepare the journal entry to record the exchange. The exchange has commercial substance. Account Name Credit Use the same information from above, prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance. Account Name Debit Credit

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