On March 31, 2020, Boxer Company disposed of old equipment that cost $29,000 and had been depreciated $14,500 as of March 31, 2020. Present the journal entries to record the disposal under each of the following unrelated assumptions: 1. The equipment was sold for $10,200. 2. The equipment was exchanged for a new machine with a fair value of $32,800. Boxer received a $15,000 trade-in allowance and he paid cash for the remaining amount.