Textile manufacturer Crane Corp. exchanges robotic equipment with an original cost of $20,000 and a carrying amount of $12,700 with the equipment rental company Pronghorn Corp. The equipment that is received in exchange from Pronghorn has an original cost of $35,000 and a carrying amount of $16,800, performs different functions, and has a fair value of $22,400. Both companies are 100% owned by the same individual. Because they are closely held companies, they both follow ASPE. Prepare the journal entries for both companies to record the exchange. (List all debit entries before credit entries. 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.) Crane Corp. Account Titles and Explanation Debit Credit Equipment (New) > Pronghorn Corp. Account Titles and Explanation > Debit Credit