Bonita Company exchanged equipment used in its manufacturing operations plus $4,080 in cash for similar equipment used in the operations of Windsor Company. The following information pertains to the exchange.

Bonita Co. Windsor Co.

Equipment (cost) $38,080 $38,080

Accumulated depreciation 25,840 13,600

Fair value of equipment 17,000 21,080

Cash given up 4,080

(a)

Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance. (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

Bonita Company: enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

Windsor Company:

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount