Question 9 Windsor Corporation exchanged equipment used in its manufacturing operations for equipment used in the operations of Sheridan Ltd. The following information pertains to the exchange: Equipment (cost) Accumulated depreciation Fair value of old equipment Cash given up Windsor Corp. $84,500 46,600 42,500 100 Sheridan Ltd. $84,500 40,300 42,600 Both companies agreed that the exchange did not have commercial substance. Prepare the necessary journal entries to record the asset exchange on the books of both companies. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Windsor Corporation: Account Titles and Explanation Debit Credit Sheridan Ltd.: Account Titles and Explanation Debit Credit