Your answer is partially correct. Try again. Sage Company purchased a heavy-duty truck on July 1, 2014, for $30,000. It was estimated that it would have a useful life of 10 years and then would have a trade-in value of 54,800. The company uses the straight-line method. It was traded on August 1, 2018, for a similar truck costing $42,740; $15,670 was allowed as trade-in value (also fair value) on the old truck and $27,070 was paid in cash. A comparison of expected cash flows for the trucks indicates the exchange lacks commercial substance. What is the entry to record the trade-in? (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Trucks (new) Accumulated Depreciation TLoss on Disposal of Trucks T Cash i IT 27070 30000 T Trucks (old) Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT