On January 2, Fog Company traded an old machine that originally cost $32,000 and had been depreciated for $24,000 for a new dissimilar machine that had a cash price of $40,000. Fog received a trade-in allowance of $5,000, and the balance was paid in cash. The exchange had commercial substance. The journal entry to record this exchange includes: O a debit to Loss for $3,000. a credit to Accumulated Depreciation for $24,000. Two of the answers are correct. a debit to machine for $32,000. a debit to cash for $35,000