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Textile manufacturer Blossom Corp.exchanges robotic equipment with an original cost of $26,600 and a carrying amount of $11,250 with the equipment rental company Ayayai Corp.

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Textile manufacturer Blossom Corp.exchanges robotic equipment with an original cost of $26,600 and a carrying amount of $11,250 with the equipment rental company Ayayai Corp. The equipment that is received in exchange from Ayayal Corp, has an original cost of $43,300 and a carrying amount of $15,500. performs different functions, and has a fair value of $20,800. Because they are closely held companies, they both follow ASPE. Prepare the journal entries for both companies to record the exchange if it were arm's -length? (Credit account titles are automatically indented when the amount is entered. Do not Indent manually.) Blossom Corp. Debit Credit Account Titles and Explanation Ayayai Corp. Debit Credit Account Titles and Explanation

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