$($a$)$

Prepare the journal entries to record the exchange on the books of both companies, assuming the exchange is determined to have

commercial substance. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry

is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Cullumber Limited

Account Titles and Explanation

Bramble Limited

Account Titles and Explanation