On January $2,2018,$ Bering Co$.$ disposes of a machine costing $$48,500$ with accumulated depreciation of $$26,126.$ Prepare the entries to record the disposal under each of the following separate assumptions.

$2.$ The machine is traded in for a newer machine having a $$65,000$ cash price. A $$23,096$ trade$-$in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance.