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Nash SE traded a used truck for a new truck. The used truck cost $...

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Accounting

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Nash SE traded a used truck for a new truck. The used truck cost $ 25,200 and has accumulated depreciation of $ 22,680. The new truck is worth $ 32,760. Nash also made a cash payment of $ 30,240. Prepare Nash's entry to record the exchange. (The exchange lacks commercial substance.) (Include in your journal entry separate account entries for both the new and old truck. 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.) Account Titles and Explanation Debit Credit

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