Shamrock Ltd. traded a used welding machine (cost $8,300, accumulated depreciation $3,490, fair value $3,420) for equipment with an estimated fair value of $2,780. Shamrock also paid $1,390 cash in the transaction.

Prepare the journal entry to record the exchange. The equipment results in different cash flows for Shamrock, 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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

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