Sarasota Company exchanged equipment used in its manufacturing operations plus $3,420 in cash for similar equipment used in the operations of Ivanhoe Company. The following inf pertains to the exchange. Sarasota Co 31,920 21,660 14,250 3,420 . Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up Xeytiilialinix; @aa. $31,920 11,400 17,670 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 automatical indented when 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.) Account Titles and Explanation Sarasota Company: Debit Credit