Prepare the necessary journal entries to record the following transactions in 2015 for jano Company. March 1 Exchanged old store equipment and $60, 000 cash for new store equipment. The old store equipment originally cost $72, 000 and had a book value of $48, 000 on the date of exchange. The old store equipment had a fair value of $57, 000 on the date of exchange. Assume depreciation on the old equipment has already been recorded for the current year. The exchange had commercial substance. July 31 Exchanged a delivery truck and $100, 000 cash for a new delivery truck. The old delivery truck originally cost $108, 000 and had accumulated depreciation of $76, 000 on the date of exchange. The fair value of the old delivery truck on the date of exchange was $24, 000. Assume the depreciation on the truck has already been recorded for the current year. The exchange had commercial substance. Aug 31 Equipment with a 4-year useful life was purchased on January 1, 2012, for $80, 000 and was sold for $28, 000 on September 1, 2015. The equipment had been depreciated using the straight-line method with an estimated salvage value of $14, 000. Depreciation Expense was last recorded on December 31, 2014