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

		Asset A		Asset B
Original cost		$132,480		$151,800
Accumulated depreciation (to date of exchange)		55,200		64,860
Fair value at date of exchange		82,800		103,500
Cash paid by Buffalo, Inc.		20,700
Cash received by Carla, Inc.				20,700

Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Buffalo, Inc. and Carla, Inc. in accordance with generally accepted accounting principles. (Round answers to 0 decimal places, e.g. 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 Buffalo, Inc.'s Books Machinery (B) Cash Accumulated Depreciation Machinery (B) Gain on Disposal of Machinery Accumulated Depreciation Machinery (A) Machinery (A) Carla, Inc.'s Books Assuming that the exchange of Assets A and B lacks commercial substance, record the exchange for both Buffalo, Inc. and Carla, Inc. in accordance with generally accepted accounting principles. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to O decimal places e.g. 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 O for the amounts.) Debit Credit Account Titles and Explanation Buffalo, Inc.'s Books Accumulated Depreciation-Machinery (A) Machinery (A) Gain on Disposal of Machinery Cash Accumulated Depreciation-Machinery (B) Machinery (B) Carla, Inc.'s Books