Skysong Company exchanged equipment used in its manufacturing operations plus $3,360 in cash for similar equipment used in the operations of Concord Company. The following information pertains to the exchange. (a) Your answer is correct. 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 O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit Skysong Company: \begin{tabular}{r} \hline 13440 \\ \hline 21280 \\ \hline \end{tabular} Cash \begin{tabular}{r} 3360 \\ \hline 31360 \\ \hline \end{tabular} Equipment \begin{tabular}{l} \hline Cash \\ \hline Equipment \\ \hline \end{tabular} Concord Company: Equipment 14000 Accumulated Depreciation - Equipment 11200 Cash \begin{tabular}{r} \hline 3360 \\ \hline 2800 \\ \hline \end{tabular} Loss on Disposal of Equipment Equipment 31360 eTexthonk and Merlia 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 O for the amounts. List all debit entries before credit entries.)