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PLEASE ASSUME IT HAS COMMERCIAL SUBSTANCE AND DO IT CORRECTLY AND READ THE QUESTION Current Attempt in Progress Sunland Company exchanged equipment used in its

PLEASE ASSUME IT HAS COMMERCIAL SUBSTANCE AND DO IT CORRECTLY AND READ THE QUESTION
Current Attempt in Progress Sunland Company exchanged equipment used in its manufacturing operations plus $3,540 in cash for similar equipment used in the operations of Coronado 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.) Coronado Company

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