Exercise 10-19 Carlos Arruza Company exchanged equipment used in its manufacturing operations plus $3,024 in 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) Accumulated depreciation Fair value of equipment Cash given up $28,224 19,152 12,600 3,024 $28,224 10,080 15,624 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.) Debit Credit No. Account Titles and Explanation (a) Carlos Arruza Company: (b) Tony Lo Bianca Company