On August 1, Cullumber, Inc exchanged productive assets with Riverbed, Inc Cullumbers asset is referred to below as Asset A, and Riverbed is referred to as Asset B The following facts pertain to these assets Asset A Asset B Original cost $140,160 $160,600 Accumulated depreciation (to date of exchange) 58,400 68,620 Fair value at date of exchange 87,600 109,500 Cash paid by Cullumber, Inc 21,900 Cash received by Riverbed, Inc 21,900 Assuming that the exchange of Assets A and B lacks commercial substance, record the exchange for both Cullumber, Inc and Riverbed, Inc in accordance with generally accepted accounting principles (Round intermediate calculations to 5 decimal places, e g 1 25124 and final answer to 0 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 0 for the amounts ) Account Titles and Explanation Debit Credit Cullumber, Inc s Books Gain on Disposal of Machinery Machinery (B) Machinery (A) Cash Accumulated Depreciation Machinery (A) Accumulated Depreciation Machinery (B) Machinery (A) Machinery (B) Accumulated Depreciation Machinery (A) Accumulated Depreciation Machinery (B) Gain on Disposal of Machinery Cash Accumulated Depreciation Machinery (A) Gain on Disposal of Machinery Accumulated Depreciation Machinery (B) Machinery (B) Machinery (A) Cash Cash Accumulated Depreciation Machinery (A) Machinery (B) Accumulated Depreciation Machinery (B) Gain on Disposal of Machinery Machinery (A) Riverbed, Inc s Books Accumulated Depreciation Machinery (A) Machinery (B) Gain on Disposal of Machinery Accumulated Depreciation Machinery (B) Cash Machinery (A) Accumulated Depreciation Machinery (B) Machinery (A) Accumulated Depreciation Machinery (A) Cash Gain on Disposal of Machinery Machinery (B) Machinery (B) Machinery (A) Accumulated Depreciation Machinery (A) Gain on Disposal of Machinery Accumulated Depreciation Machinery (B) Cash Cash Gain on Disposal of Machinery Machinery (B) Machinery (A) Accumulated Depreciation Machinery (A) Accumulated Depreciation Machinery (B) Machinery (B) Gain on Disposal of Machinery Machinery (A) Accumulated Depreciation Machinery (A) Accumulated Depreciation Machinery (B) Cash

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On August 1, Cullumber, Inc. exchanged productive assets with Riverbed, Inc. Cullumbers asset is referred to below as Asset A, and Riverbed is referred to

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

	Asset A	Asset B
Original cost	$140,160	$160,600
Accumulated depreciation (to date of exchange)	58,400	68,620
Fair value at date of exchange	87,600	109,500
Cash paid by Cullumber, Inc.	21,900
Cash received by Riverbed, Inc.		21,900

Assuming that the exchange of Assets A and B lacks commercial substance, record the exchange for both Cullumber, Inc. and Riverbed, Inc. in accordance with generally accepted accounting principles. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
Cullumber, Inc.s Books
Gain on Disposal of Machinery Machinery (B) Machinery (A) Cash Accumulated Depreciation-Machinery (A) Accumulated Depreciation-Machinery (B)
Machinery (A) Machinery (B) Accumulated Depreciation-Machinery (A) Accumulated Depreciation-Machinery (B) Gain on Disposal of Machinery Cash
Accumulated Depreciation-Machinery (A) Gain on Disposal of Machinery Accumulated Depreciation-Machinery (B) Machinery (B) Machinery (A) Cash
Cash Accumulated Depreciation-Machinery (A) Machinery (B) Accumulated Depreciation-Machinery (B) Gain on Disposal of Machinery Machinery (A)
Riverbed, Inc.s Books
Accumulated Depreciation-Machinery (A) Machinery (B) Gain on Disposal of Machinery Accumulated Depreciation-Machinery (B) Cash Machinery (A)
Accumulated Depreciation-Machinery (B) Machinery (A) Accumulated Depreciation-Machinery (A) Cash Gain on Disposal of Machinery Machinery (B)
Machinery (B) Machinery (A) Accumulated Depreciation-Machinery (A) Gain on Disposal of Machinery Accumulated Depreciation-Machinery (B) Cash
Cash Gain on Disposal of Machinery Machinery (B) Machinery (A) Accumulated Depreciation-Machinery (A) Accumulated Depreciation-Machinery (B)
Machinery (B) Gain on Disposal of Machinery Machinery (A) Accumulated Depreciation-Machinery (A) Accumulated Depreciation-Machinery (B) Cash