Sage Hill Ltd. traded a used welding machine (cost $10,000, accumulated depreciation $2,180, fair value $3,520 ) for equipment with an estimated fair value of $8,600. Sage Hill also paid $4,300 cash in the transaction. Prepare the journal entry to record the exchange. The equipment results in different cash flows for Sage Hill, compared with those the welding machine produced. (Credit account titles are automatically indented when the 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.)