Brief Exercise 10-11 Your answer is partially correct. Try again. Sheridan Company traded a used truck for a new truck. The used truck cost $48,300 and has accumulated depreciation of $43,470. The new truck is worth $59,570. Sheridan also made a cash payment of $57,960 Prepare Sheridan's entry to record the exchange. (The exchange lacks 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 Trucks (new) 59570 Accumulated Depreciation-Trucks 43470 Loss on Disposal of Trucks 11270 Trucks (used) 48300 Cash 57960 SHOW LIST OF ACCOUNTS LINK TO TEXT