History Current Attempt in Progress Splish Company exchanged equipment used in its manufacturing operations plus $4,380 in cash for similar equipment used in the operations of Blossom Company. The following information pertains to the exchange. Splish Co. Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up $40,880 27.740 18,250 4,380 Blossom Co. $40,880 14.600 22.630 A - Your answer is partially correct. 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 for the amounts