On August 1, Bramble, Inc. exchanged productive assets with Sunland, Inc. Brambles asset is referred to below as Asset A, and Sunland is referred to as Asset B. The following facts pertain to these assets.

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On August 1, Bramble, Inc. exchanged productive assets with Sunland, Inc. Bramble's asset is referred to below as "Asset A." and Sunland' is referred to as "Asset B. The following facts pertain to these assets. Asset A Asset B $123,200 Original cost $107,520 44.800 52,640 67,200 84.000 Accumulated depreciation (to date of exchange) Fair value at date of exchange Cash paid by Bramble, Inc. Cash received by Sunland, Inc. 16,800 16,800 (a) Your Answer Correct Answer Your answer is correct. Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Bramble, Inc. and Sunland, Inc. in accordance with generally accepted accounting principles. (Round answers to decimal places, eg. 5,275. 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 for the amounts.) Debit Credit Account Titles and Explanation Bramble. Inc's Books Machinery 84,000 Accumulated Depreciation Machinery 44,800 Machinery 107.520 Gain on Disposal of Machinery 4,480 Cash 16,800 Sunland, Inc's Books Machinery 67,200 Accumulated Depreciation-Machinery 52,640 Cash 16,800 000 Machinery 123,200 Gain on Disposal of Machinery 13,440 (b) Assuming that the exchange of Assets A and Blacks commercial substance, record the exchange for both Bramble, Inc. and Sunland, Inc. in accordance with generally accepted accounting principles. (Round intermediate calculations to 5 decimal places, eg. 1.25124 and final answer to decimal places eg. 58,971. 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 for the amounts.) Debit Credit Account Titles and Explanation Bramble, Inc's Books Sunland, Inc's Books