Carla Company exchanged equipment used in its manufacturing operations plus $4,020 in cash for similar equipment used in the operations of Sarasota Company. The following information pertains to the exchange. Carla Co. Sarasota Co. 37,520 $37520 13,400 Equipment (cost) Accumulated depreciation 25,460 Fair value of equipment16,75020,770 Cash given up 4,020 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 indentm Account Titles and Explanation Carla Company: Credit Debit Sarasota Company: eTextbook and Media List of Accounts Prepare the journal entries to record the exchango te books of bath companies. Assune that the exchange has commercial substance. (Credit account titles ore automatically indented when amount is entered Do not indent manuolly. If no entry is required select "No Entry' for the occount titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Carla Company