Solve the below problem:
Q: Mehta Company traded a used welding machine (cost $11,160, accumulated depreciation $3,720) for office equipment with an estimated fair value of $6,200. Mehta also paid $3,720 cash in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.)(List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)