Problem 10-9 (Part Level Submission) On August 1, Sheridan, Inc. exchanged productive assets with Skysong, Inc. Sheridan's asset is referred to below as "Asset A" and Skysong' is referred to as Asset 8. The following facts pertain to these assets. Original cost Accumulated depreciation to date of exchange) Fair value at date of exchange Cash paid by Sheridan, Inc. Cash received by Skysong, Inc. Asset A $97.920 40,800 61,200 15,300 Asset B $112,200 47,940 76,500 15,300 Your answer is correct. Assuming that the exchange of Assets A and has commercial substance, record the exchange for both Sheridan, Inc. and Skysong, Inc. in accordance with generally accepted accounting principles (Round answers to decimal places, eg. 5,275. Credit account titles are automatically indented when amount is entered. Do not inderit manually. If he entry is required, select "No Entry" for the account cities and enter for the amounts.) Debit Credit Account Titles and Explanation Sheridan, Inc.'s Books T Machinery () Accumulated Depreciation Machine Machinery (A) Cash Ganon disposal of Machinery Skyseng, Inc.'s Books y (A) Accumulated Depreciation Machinery Your answer is partially correct. Try again Assuming that the exchange of Assets A and Blacks commercial substance, record the exchange for both Sheridan, Inc. and Skysong, Inc. in accordance with generally accepted accounting principles. (Round Intermediate calculations to decimal places, eg 1.25124 and Final answer to decimal places e.g. 38,971. 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 for the amounts) Account Tiles and Explanation Sheridan, Inc.'s Books Accumulated Depreciation Machinery (0) TY) Skyseno. Inc.'s Books mini I can Accurated Depreciation Machinery (A Machinery (A) Campos chory Manery ()