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What journal entries would be required with this question. On December 31, 2020 (after recording depreciation); the company traded asset #2018-03 for a 2012 Ford

What journal entries would be required with this question.

On December 31, 2020 (after recording depreciation); the company traded asset #2018-03 for a 2012 Ford F150. In addition to the trade, the company paid $2,000 cash for the new truck. The fair value of asset # 2018-03 was $9,000. Assume that this transaction HAS commercial substance. Once this new asset is purchased, do not depreciate it.

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