Miranda Valley Transport is a large trucking company. Miranda Valley Transport uses the units-of-production (UOP) method to depreciate its trucks. In 201 1 , Miranda Valley Transport acquired a Mack truck costing $390,000 with a useful life of 1 0 years or 650,000 miles. Estimated residual value was $65,000. The truck was driven 81 ,000 miles in 201 1 , 1 1 6,000 miles in 201 2, and 1 31 ,000 miles in 201 3. After 30,000 miles in 201 4, Miranda Valley Transport traded in the Mack truck for a new Freightliner that costs $41 6,000. Regional Highway Transport received a $226,000 trade-in allowance for the old truck and paid the difference in cash. Journalize the entry to record the purchase of the new truck.