Concept for Analysis 10-4 You have two clients that are considering trading machinery with each other. Although the machines are different from each other, you believe that an assessment of expected cash flows on the exchanged assets will indicate the exchange lacks commercial substance. Your clients would prefer that the exchange be deemed to have commercial substance, to allow them to record gains. Here are the facts: Original cost Accumulated depreciation Fair value Cash received (paid) Client A $105,500 44,800 73 300 (12,600) Client $144,500 80.800 85,900 12,600 Your answer is partially correct. Try again. the amounts Record the trade-in on Client A's books assuming the exchange has commercial substance. If no entry is required, select "No Entry" for the account titles and enter Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Tities and Explanation TEquipment TAccumulated Depreciation Equipment 12600 Gain on Disposal of Equip SHOW LIST OF ACCOUNTS Your answer is partially correct. Try again. Record the trade in on Client A's books assuming the exchange lacks commercial substance. (If no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit quement 733001 Accumulated Depreciation 1 4 4800 Loss on Disposal of ou 105500 12600 Your answer is partially correct. Try again, O for the amounts, Credit Record the entry on Client's books assuming the exchange has commercial substance. (If no entry is required, select "No Entry" for the account account tities are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit - cuipment Accumulated Depreciation U Cash 8 23300 0800 12600 Loss on Disposal of Eu Gain on Disposal of Equipe 22200 Your answer is partially correct. Try again Record the entry on Client's books assuming the exchange lacks commercial substance. (Round Intermediate calculations to decimal places, e.g. 1.25124 and final answer to o decimal places eg. 58.971. If no entry is required, select "No Entry for the account tities and enter for the amounts, Credit account tities are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Deble Credit Equipment 51100 Accumulated Depreciation Tcash Loss on Disposal of Bull