For any computations please show how you arrived at the answer. This will help me greatly with understanding the process as well as how the journal entries should look. Thank you!

4. On March 1, 2021, Cascade Company exchanged a number of used trucks plus cash for vacant land adjacent to its plant site. (The exchange has commercial substance.) Cascade intends to use the land for a parking lot. The trucks had a combined book value of $35,000, as Cascade had recorded $20,000 of accumulated depreciation against these assets. In addition to the trucks, Cascade Company paid $19,000 cash for the land which had a fair value of $65,000. Prepare Cascade's journal entry to record the transaction