Overview Question 1 --/1 Question 2 --/1 Question 3 --/1 Question 4 --/1 Question 5 --/1 Question 6 --/1 Question 7 --/1 Question 8 --/1 Question 9 --/1 Prev Question 9 --/1 View Policies Current Attempt in Progress 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 (a) 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 Bonita, Inc.s Books eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Prev