Whispering Corporation traded a used truck for a new truck. The used truck cost $24,200 and has accumulated depreciation of $20,570. The new truck is worth $42,350. Whispering also made a cash payment of $39,930.

Prepare Whispering's entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when 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. List all debit entries before credit entries.)

Account Titles and Explanation

Debit

Credit