Question Help Barnett Company contracts with Baxter Company to exchange refrigerated trucks. Barnett Company will trade three SMC trucks for four DROF trucks owned by Baxter Company (Click the icon to view additional information.) Requirement Record the transaction on the books of the Barnett Company. Assume the exchange does not have commercial substance. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Date of the Exchange 1 More Info The trucks are approximately the same age and have the same remaining useful lives. The fair value of the SMC trucks is $51,100 with a book value of $37,200 (cost $65,200 less $28,000 accumulated depreciation). The DROF trucks have a fair value of $66,800 and Barnett Company gives $15,700 in cash (paid) in addition to the SMC trucks. Print Done Choose from any list or enter any number in the input fields and