Whispering Inc. has negotiated the purchase of a new piece of automatic equipment at a price of $15,200 plus trade-in, f.o.b factory. Whispering Inc. paid $15,200 and traded in used equipment. The used equipment had originally cost $70,000; it had a book value of $32,100 and a secondhand market value of $36,200, as indicated by recent transactions involving similar equipment. Freight and installation charges for the new equipment required a cash payment of $2,300. Assuming the same facts as in (a) except that fair value information for the assets exchanged is not determinable. Prepare the general journal entry to record this transaction