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

		Asset A		Asset B
Original cost		$144,000		$165,000
Accumulated depreciation (to date of exchange)		60,000		70,500
Fair value at date of exchange		90,000		112,500
Cash paid by Indigo, Inc.		22,500
Cash received by Sweet, Inc.				22,500

(a)

Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Indigo, Inc. and Sweet, 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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
Indigo, Inc.s Books
Sweet, Inc.s Books