Assuming that the exchange of Assets A and Blacks commercial substance, record the exchange for both Whispering, Inc. and Metlock, Inc. in accordance with generally accepted accounting principles. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to O decimal places e.g. 58,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Whispering, Inc.'s Books Machinery Accumulated Depreciation Machinery 44800 Machinery 107520 Cash 16800 Metlock, Inc.'s Books Cash 16800 Machinery Accumulated Depreciation-Machinery Machinery Gain on Disposal of Machinery On August 1, Whispering, Inc. exchanged productive assets with Metlock, Inc. Whispering's asset is referred to below as "Asset A," and Metlock' is referred to as "Asset B." The following facts pertain to these assets. Asset A Asset B Original cost $107,520 $123,200 Accumulated depreciation (to date of exchange) 44,800 52,640 Fair value at date of exchange 67.200 84,000 Cash paid by Whispering, Inc. 16,800 Cash received by Metlock, Inc. 16,800 (a) Your answer is correct. Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Whispering, Inc. and Metlock, Inc. in accordance with generally accepted accounting principles. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when 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.) Account Titles and Explanation Debit Credit Account Titles and Explanation Debit Credit Whispering, Inc.'s Books Machinery 84000 Accumulated Depreciation-Machinery 44800 Gain on Disposal of Machinery 4480 Machinery 107520 Cash 16800 Metlock, Inc.'s Books Cash 16800 Machinery 67200 Accumulated Depreciation-Machinery 52640 Machinery 123200 Gain on Disposal of Machinery 13440 e Textbook and Media