On January 3, Carothers Corporation acquired $200,000 in new equipment in exchange for cash of $170,000 cash and a trade-in of old equipment. That old equipment originally cost $180,000 and had accumulated depreciation of $160,000; it had a book value of $20,000 at the time of exchange. Complete the necessary adjusting entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns No Credit Date Jan. 3 1 Answer is not complete. General Journal Equipment (new) Accumulated depreciation Cash Equipment (old) Debit 200,000 160,000 180,000 10,000