On April 1, 2015, JenCo exchanges two small pieces of equipment (A and B) for a larger one (C) from Stiller Co. Stiller Co. produces equipment and classifies all equipment as inventory. Stiller Co. has agreed to take the equipment A and B, and pay JenCo $33,000 cash in exchange for the equipment C. Equipment C cost $281,000 to manufacture. Following is information regarding the exchange.

	JenCo	Stiller Co.
Equipment A	$180,000
Accumulated depreciation, equipment A	13,000
Fair value equipment A	161500
Equipment B at cost	190,000
Accumulated depreciation, equipment B	12,000
Fair value equipment B	181,500
Fair value equipment C		310,000
Cash paid		33,000
Cash received	33,000

Please make sure your final answer(s) are accurate to 2 decimal places. (a) Record the journal entry for the exchange on the books of both JenCo and Stiller Co. Assume the exchange has commercial substance. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). JenCo

Stiller Co.

(b) Record the journal entry for the exchange on the books of both JenCo and Stiller Co. Assume the exchange does not have commercial substance. JenCo

Stiller Co.