List of possible accounts: Machinery(A), Accumulated Depreciation-Machinery(B), Gain on Disposal of Machinery, Machinery(B), Cash, Accumulated Depreciation-Machinery(A)

(Only need to figure out what the items are in Red boxes above and how to get the values)

Problem 10-9 On August 1, Sheridan, Inc. exchanged productive assets with Skysong, Inc. Sheridan's asset is referred to below as "Asset A," and Skysong' is referred to as "Asset B. The following facts pertain to these assets. Asset B $119,040 $136,400 58,280 74,400 93,000 Asset A Original cost Accumulated depreciation (to date of exchange) Fair value at date of exchange Cash paid by Sheridan, Inc. Cash received by Skysong, Inc 49,600 18,600 18,600