Sunland Ltd$.$ purchased an electric wax on April $30,2023,$ by trading in its old gas model and paying the balance in cashThe following data relate to the purchase:

List price of new melter $ $15,000$

Cash paid $6,800$

Cost of old melter $(5-$year life, $$800$ residual value$)12,800$

Accumulated depreciation on old melter $($straight $-$line$)7,200$

Market value of old melter in active secondary market $5,830$

Assuming that Sunland's fiscal year ends on December $31$ and depreciation has been recorded through December $31,2022,$ prepare the journal entries that are necessary to record this exchange$($Credit titles are automatically indented when the amount is enteredDo not indent manually. If no entry is required, select No Entryfor the account titles and enter for the amountsList all debit entries before$$credit$$entries