Marin Company exchanged equipment used in its manufacturing operations plus $3,780 in cash for similar equipment used in the operations of Headland Company. The following information pertains to the exchange.

		Marin Co.			Headland Co.
Equipment (cost)		$35,280			$35,280
Accumulated depreciation		23,940			12,600
Fair value of equipment		15,750			19,530
Cash given up		3,780

(a)

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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
Marin Company:
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
Headland Company:
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount