On January 2, ABC Company traded an old machine that originally cost $64,000 and had been depreciated for $48,000 for a new dissimilar machine that had a cash price of $80,000. Fog received a trade-in allowance of $20,000 and the balance was paid in cash. The exchange had commercial substance. The journal entry to record this exchange includes: O a credit to Machine for $64,000. a credit to Loss for $4,000. a debit to cash for $60,000. a credit to Accumulated Depreciation for $48,000. None of the answers are correct