QL (25 marks) Hailstorm Ireland exchanged a three year old truck for a new truck that had a list price of $50,000, which was its fair value. The old track ripinally cost $65,000 and has accumulated depreciation of $25,000 to the date of exchange. In addition to the $15,000 trade in given for the old truck, HI paid $8,000 cash to complete the deal Record the asset exchange with all necessary calculations Refer to the class lecture, elaborate the accounting procedures involved for asset disposal through discarding, selling, or exchanging an asset. apps.live.com.. earch