Micron Precision purchased a computer for \($3,100\), debiting Computer equipment. During 2010 and 2011, Micron Precision recorded total depreciation of \($2,200\) on the computer. On January 1, 2012, Micron Precision traded in the computer for a new one, paying \($2,900\) cash.
Requirement
1. Journalize Micron Precision’s exchange of computers.