On September 12, Cheyenne Company agreed to an exchange of assets with another company. Cheyenne gave up a machine with an original cost of $50,100. $30,500 in accumulated depreciation had been recorded on this machine over the course of Cheyennes ownership. Cheyenne determined that the machine being given up had a fair value of $18,500. Cheyenne also paid $7,600 in cash. Assume that Cheyenne follows IFRS and that the transaction has commercial substance. Prepare the journal entry to record the asset exchange on Cheyennes books.