Wall corporation exchanges old equipment for new equipment. the original cost of the old equipment was $100,000, and its accumulated depreciation at the date of exchange was $60,000. the new asset received had a fair value of $80,000 and a book value of $65,000. the journal entry to record this exchange will include which of the following entries? credit gain on exchange of asset $4000 credit equipment $100,000 debit accumulated depreciation $60,000 debit equipment $80,000 debit equipment $65,000 credit equipment $80,000 credit accumulated depreciation $60,000