Exercise 10-19 Flounder Company exchanged equipment used in its manufacturing operations plus $4,080 in cash for similar equipment used in the operations of Culver Company. The following information pertains to the exchange. Flounder Co. Culver Co. $38,080 $38,080 Equipment (cost) Accumulated depreciation 13,600 25,840 Fair value of equipment 17,000 21,080 Cash given up 4,080 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 o for the amounts.)