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

		Asset A		Asset B
Original cost		$130,560		$149,600
Accumulated depreciation (to date of exchange)		54,400		63,920
Fair value at date of exchange		81,600		102,000
Cash paid by Metlock, Inc.		20,400
Cash received by Bonita, Inc.				20,400

Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Metlock, Inc. and Bonita, 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
Metlock, Inc.s Books
Machinery	102,000
Accumulated depreciation-machinery	54,400
Machinery		130,560
Cash		20,400
Gain on disposal of machinery		5,440
Bonita, Inc.s Books
Machinery	81,600
Accumulated depreciation-machinery	63,920
Cash	20,400
Machinery		149,600
Gain on disposal of machinery		16,320

Assuming that the exchange of Assets A and B lacks commercial substance, record the exchange for both Metlock, Inc. and Bonita, 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
Metlock, Inc.s Books
Bonita, Inc.s Books