On the first day of the fiscal year, a new walk-in cooler with a list price of $51,900 was acquired in exchange for an old cooler and $41,700 cash. The old cooler had a cost of $44,000 and accumulated depreciation of $38,100. Assume the transaction has commercial substance. Required a. Determine the gain to be recorded on the exchange. b. Journalize the entry for the exchange. If an amount box does not require an entry, leave it blank.