On August 1, Vaughn, Inc. exchanged productive assets with Bramble, Inc. Vaughns asset is referred to below as Asset A, and Bramble 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 Vaughn, Inc.		20,400
Cash received by Bramble, Inc.				20,400

(a)

Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Vaughn, Inc. and Bramble, 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
Vaughn, Inc.s Books
Bramble, Inc.s Books

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