Presented below are two independent transactions. Both transactions have commercial substance. 1. 2. Pronghorn Co. exchanged old trucks (cost $64,000 less $19,000 accumulated depreciation) plus cash of $18,000 for new trucks. The old trucks had a fair value of $40.300. Culver Inc. trades its used machine (cost $13,260 less $4.420 accumulated depreciation) for a new machine. In addition to exchanging the old machine (which had a fair value of $12,240). Culver also paid cash of $2.600. (a) Prepare the entry to record the exchange of assets by Pronghorn Co. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Include in your journal entry separate account entries for both the new and old equipment.)