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need some assistance Ivanhoe Limited exchanged equipment that it uses in its manufacturing operations for similar equipment that is used in the operations of Bridgeport

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Ivanhoe Limited exchanged equipment that it uses in its manufacturing operations for similar equipment that is used in the operations of Bridgeport Limited. Ivanhoe also paid Bridgeport $3,200 in cash. The following information pertains to the exchange Ivanhoe Bridgeport Equipment (cost) $52,000 $55,500 Accumulated depreciation 30,000 20.500 Fair value of equipment 26,000 29.200 Prepare the journal entries to record the exchange on the books of both companies, assuming the exchange is determined to have commercial substance. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "Na Entry for the account titles and enter for the amounts) Ivanhoe Limited Account Titles and Explanation Credit Debit Bridgeport Limited Account Titles and Explanation Debit Credit Bridgeport Limited Account Tities and Explanation Debit Credit eTextbook and Media List of Accounts Prepare the journal entries to record the exchange on the books of both companies, assuming the exchange is determined not to have commercial substance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Ivanhoe Limited Account Titles and Explanation Debit Credit Bridgeport Limited Account Tities and Explanation Debit Credit

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