Problem: On January 1, 2020, CCH Inc. exchanged its equipment for a delivery truck. CCHs equipment had been purchased for $95,000 3 years ago (on January 1, 2017) and has been depreciated using the straight-line method with an estimated 5 year useful life and estimated residual of $5,000. Therefore, the balance in Accumulated Depreciation on January 1, 2020 is $54,000. On January 1, 2020, the CCHs equipment fair value is $43,500 and the delivery trucks fair value is $44,500. Cash of $1,000 was also paid by CCH in the exchange. Assume this exchange has commercial substance. Required: Record the journal entry in CCHs books to record the exchange of assets on January 1, 2020.