On January 22, 2021, Alto Corporation exchanged an older car with a fair value of $22,000 for a truck with a manufacturer's suggested retail value of $60,000. The original cost of the older car was $75,000 and has accumulated depreciation of $58,000 to the date of exchange. A trade-in allowance of $20,000 was given for the car, and the remainder was paid in cash. REQUIRED: Prepare the journal entry to record the exchange on January 22, 2021. B I Paragraph ... GENERAL JOURNAL ACCOUNT TITLES DEBIT CREDIT DATE