Kingbird Company exchanged equipment used in its manufacturing operations plus $4,380 in cash for similar equipment used in the operations of O Company. The following information pertains to the exchange. Kingbird Co. Oriole Co. Equipment (cost) $40,880 $40,880 27,740 Accumulated depreciation 14,600 Fair value of equipment 18,250 22,630 Cash given up 4,380 Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance. (Credi 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.)