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i need help with b please On August 1, Blossom, Inc, exchanged productive assets with Blue, Inc. Blossom's asset is referred to below as Asset
i need help with b please
On August 1, Blossom, Inc, exchanged productive assets with Blue, Inc. Blossom's asset is referred to below as "Asset A," and Blue' is referred to as "Asset B." The following facts pertain to these assets. Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Blossom, Inc. and Blue, Inc in accordance with generally accepted accounting principles. (Round answers to 0 decimal places, e, . 5,275, 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. List all debit entries before credit entries.) Assuming that the exchange of Assets A and B lacks commercial substance, fecord the exchange for both Blossom, Inc. and Blue. Inc. In accordance with generally accepted accountins principles. (Do not round intermediate calculations. Round final answer to 0 decimal places e.9. 58,971. 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.) Step by Step Solution
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