[shawty83]

Engingeering wants to buy a new tractor by trading in its current tractor, which is the same model but several yrs older. The new tractor has a list price of $219,700. The old tractor was orginially purchased for $177,200, but has a current book value of $38,900.
The tractor dealer has offered a trade-in allowance of $38300 for the old tractor. Journalize the transactions required to properly dispose of the tractor.

[rehmanvohra]

It is not permitted to give you the entries in this forum. You have to show your work first so that a better guidance can be given. However, just a guidance, consider the exchange/trade in value as a cash receipt except that instead of cash you have paid a lesser amount for the new asset. The loss on disposal is the difference between the book value and trade in value.