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SplishCompany traded a used truck for a new truck. The used truck cost $40,200and has accumulated depreciation of $36,180. The new truck is worth $49,580.Splishalso

SplishCompany traded a used truck for a new truck. The used truck cost $40,200and has accumulated depreciation of $36,180. The new truck is worth $49,580.Splishalso made a cash payment of $48,240.

PrepareSplish's entry to record the exchange. (The exchange lacks commercial substance.)

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