On October $1,$ Bentley Delivery Services acquired a new truck with a list price $($fair market value$)$ of $$80,250.$ Bentley Delivery received a trade$-$in allowance $($fair market value$)$ of $$27,850$ on an old truck of similar type and paid cash of $$52,400.$ The following information about the old truck is obtained from the account in the equipment ledger: cost, $$57,400$; accumulated depreciation on December $31,$ the end of the preceding fiscal year, $$31,200$; annual depreciation, $$7,800.$

Required:

Assuming that the exchange has commercial substance, journalize the entries to record $($a$)$ the current depreciation of the old truck to the date of trade$-$in and $($b$)$ the transaction on October $1.$ Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.