Oriole Corporation traded a used truck (cost $26,800, accumulated depr


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Oriole Corporation traded a used truck (cost $26,800, accumulated depreciation $24,120) for a small computer with a fair value of $4,422. Oriole also paid $670 in the transaction. Prepare the journal entry to record the exchange. (The exchange has comme

Sale price $15.00 Regular price $30.00

Oriole Corporation traded a used truck (cost $26,800, accumulated
depreciation $24,120) for a small computer with a fair value of $4,422. Oriole also paid $670 in the transaction.

Prepare the journal 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 0 for the amounts.)

Account Titles and Explanation
Debit
Credit

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