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

On August 1, Sarasota, Inc. exchanged productive assets with Ivanhoe, Inc. Sarasota's asset is referred to below as "Asset A" and Ivanhoe' is referred to as "Asset B" The following facts pertain to these assets. Original cost Accumulated depreciation (to date of exchange) Fair value at date of exchange Cash paid by Sarasota, Inc. Cash received by Ivanhoe, Inc. Asset A Asset B $115,200 $132,000 48,000 56,400 72,000 90,000 18,000 18,000 decimal places, eg 5,275. Credit account titles are Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Sarasota, Inc. and Ivanhoe, Inc. in accordance with generally accepted accounting principles. (Round answers to automatically inderted when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Debit Credit Account Titles and Explanation Sarasota, Inc.'s Books Ivanhoe, Inc.'s Books eTextbook and Media Assuming that the exchange of Assets A and B lacks commercial substance, record the exchange for both Sarasota, Inc. and Ivanhoe, Inc. in accordance with generally accepted accounting principles. (Round intermediate calculations to 5 decimal places, eg 1.25124 and final answer to O decimal places eg. 58,971. Credit account titles are automatically inderted when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Debit Credit Account Titles and Explanation Sarasota, Inc.'s Books Ivanhoe, Inc's Books