On July 1, Potts Delivery Services acquired a new truck with a list price (fair market value) of $80,000. Potts received a trade-in allowance of $15,000 on an old truck of similar type and paid cash of $65,000. The following information about the old truck is obtained from the account in the equipment ledger: cost, $60,000; accumulated depreciation on December 31, the end of the preceding fiscal year, $42,000; annual depreciation, $7,500. Assume the exchange has commercial substance. a. Journalize the entry to record the current depreciation of the old truck to the date of trade-in. b. Journalize the entry to record the transaction on July 1. If an amount box does not require an entry, leave it blank or enter "0