4. Prepare the journal entry to record the exchange. Consider the following 3 independent cases:

1. Navage Corp. traded a used truck (cost $20 000, accum. depr. $18 000) for a small computer with a fair value of $3 300. Navage also paid $500 in the transaction.

2. Slate Corporation traded a used truck for a new truck. The used truck cost $20 000 and has accum. depr. of $17 000. The new truck is worth $35 000. Slate also made a cash payment of $33,000.