Current Attempt in Progress Sunland Company exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $44,300 (cost $74,700 less accumulated depreciation $30,400). Its fair value is $45,500, and cash of $7,700 is paid. Prepare the entry to record the exchange. (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 O for the amounts.) Account Titles and Explanation Debit Credit

Current Attempt in Progress Sunland Company exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $44,300 (cost $74,700 less accumulated depreciation $30,400 ). Its fair value is $45,500, and cash of $7,700 is paid. Prepare the entry to record the exchange. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter Ofor the amounts.)