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Current Attempt in Progress On August 1, Splish, Inc, exchanged productive assets with Blossom, Inc. Splish's asset is referred to below as Asset A, and
Current Attempt in Progress On August 1, Splish, Inc, exchanged productive assets with Blossom, Inc. Splish's asset is referred to below as "Asset A," and Blossom' is referred to as 'Asset B:" The following facts pertain to these assets. Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Splish, Inc, and Blossom, Inc. in accordance with generally accepted accounting principles. (Round answers to 0 decimal places, es 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. List all debit entries before credit entries) Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Splish, Inc: and Blossom, Ine in accardance with generally accepted sccounting principles. (Riound anwers to 0 decimal places, es 5,275. Credit occount titles are automatically indented when amount is entered. Do not indent manually, if no entry is required, select "No Entry" for the account tidies and enter Ofor the amounts, List all debit entries before credit entries) required, select "No Entry" for the occount titles and enter Ofor the amounts) Account Titles and Explanation Debit Credit Solish. Inc's Boohs Blossom. Jncis Books Accumulated Depreciation - Machinery (A) Accumulated Depreciation - Machinery (B) Cash Gain on Disposal of Machinery Machinery (A) Machinery (B) No Entry
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