View Policies Current Attempt in Progress Vaughn Company exchanged equipment used in its manufacturing operations plus $3,720 in cash for similar equipment used in the operations of Bramble Company. The following information pertains to the exchange. Bramble Co. Equipment cost) Accumulated depreciation Fair value of equipment Cash given up Vaughn Co $34,720 23.560 15,500 3,720 $34.720 12.400 19,220 (a) 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 tities and enter for the amounts) Account Titles and Explanation Vaughn Company Debit Credit Bramble Company e Textbook and Media List of Accounts Attempts: 0 of 5 used Question Part Score