Exercise 10-19 Ayayai Company exchanged equipment used in its manufacturing operations plus $3,480 in cash for similar equipment used in the operations of Pina Company. The following informa pertains to the exchange. Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up Ayayai Co. $32,480 22,040 14,500 3,480 Pina Co. $32,480 11,600 17,980 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 automatic indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Account Titles and Explanation Ayayai Company: Pina Company: SHOW LIST OF ACCOUNTS Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange has commercial substance. (Credit account titles are automatical indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Account Titles and Explanation Ayayai Company Pina Company SHOW LIST OF ACCOUNTS