Exercise 10-19 Carlos Arruza Company exchanged equipment used in its manufacturing operations plus $7,827in cash for similar equipment used in the operations of Tony LoBianco Company. The following information pertains to the exchange.

Carlos Arruza Co.	Tony LoBianco Co.
Equipment (cost)	$73,052	$73,052
Accumulated depreciation	49,571	26,090
Fair value of equipment	32,613	40,440
Cash given up	7,827

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.)

No.	Account Titles and Explanation	Debit	Credit
(a)	Carlos Arruza Company:
(b)	Tony Lo Bianca Company:

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 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.)

No.	Account Titles and Explanation	Debit	Credit
(a)	Carlos Arruza Company
(b)	Tony LoBainco Company