Sandhill Company exchanged equipment used in its manufacturing operations plus $4,200 in cash for similar equipment used in the operations of Teal Company. The following information pertains to the exchange. Sandhill Co. Teal Co. Equipment (cost) $39,200 $39,200 26,600 14.000 Accumulated depreciation Fair value of equipment 17,500 21,700 Cash given up 4,200 Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks 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 for the amounts.) Debit Credit Account Titles and Explanation Sandhill Company 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 Ofor the amounts.) Account Titles and Explanation Debit Credit Sandhill Company Teal Company