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please help On August 1, Kingbird, Inc exchanged productive assets with Oriole, Inc. Kingbird's asset is referred to below as Asset A. and Oriole' is
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On August 1, Kingbird, Inc exchanged productive assets with Oriole, Inc. Kingbird's asset is referred to below as "Asset A." and Oriole' is referred to as "Asset B." The following facts pertain to these assets. (a) Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Kingbird, Inc. and Oriole, Inc. in accordance with generally accepted accounting principles. (Round answers to 0 decimal places, es. 5,275. Credit account titles are outomatically indented when amount is entered. Do not Indent manually, If no entry Is required, select "No Entry" for the account tittes Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Kingbird, Inc. and Oriole, Inc. in accordance with generally accepted accounting principles. (Round answers to 0 decimal places, eg. 5,275. Credit occount titles are outomatically 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. List all debit entries before credit entries.) (b) The parts of this question must be completed in order. This part will be available when you complete the part above Step by Step Solution
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