Athens Inc . exchanged machinery with an appraised value of S1 170 000 a recorded co of $1 800 000 and accumulated depreciation of $900 000 for machinery that Sparta Corp . owns Sparta's machinery has an appraised value of $1 140 000 a recorded cost $2 160 000 , and accumulated depreciation of SL , 188 000 Sparta also gave Athens $30 000 in the exchange . Assume depreciation has been updated to the date of exchang Instructions a ) Prepare the entries on both companies books assuming that the transaction has commercial substance b ) Prepare the entries on both companies books assuming that the transaction lacks al enters