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Please answer by 9 pm ET Journal entries are for an exchange that HAS commercial value Bramble Company exchanged equipment used in its manufacturing operations
Please answer by 9 pm ET
Journal entries are for an exchange that HAS commercial value
Bramble Company exchanged equipment used in its manufacturing operations plus $4,380 in cash for similar equipment used in the operations of Sunland Company. The following information pertains to the exchange. Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange has commercial substance. (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.) Sunland Company. Equipment Accumulated Depreciation-Equipment Cash Loss on Disposal of Equipment EquipmentStep by Step Solution
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