Ohio Valley Transport is a large trucking company. Ohio Valley Transport uses the units of production (UOP) method to depreciate its trucks. In 2015, Ohio Valley Transport acquired a Mack truck costing $420,000 with a useful life of 10 years or 800,000 miles. Estimated residual value was $140,000. The truck was driven 84,000 miles in 2015; 154,000 miles in 2016; and 159,000 miles in 2017. After 45,000 miles in 2018, Ohio Valley Transport traded in the Mack truck for a new Freightliner that cost $430,300. Ohio Valley Transport received a $280,300 trade-in allowance for the old truck and paid the difference in cash. Journalize the entry to record the purchase of the new truck. (Round interim calculations to the nearest cent and your final answer to the nearest dollar. Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit 2018 430,300 313,820 Truck (new) Accumulated depreciation, truck (old) Gain on exchange of assets Truck (old) 116,480 420,000 Cash