View Policies Show Attempt History Current Attempt in Progress Crane Limited exchanged equipment that it uses in its manufacturing operations for similar equipment that is used in the operations of Blue Limited. Crane also paid Blue $2,700 in cash. The following information pertains to the exchange. is required, select "No Entry" for the account titles and enter 0 for the amounts.) Blue Limited Account Titles and Explanation Debit Credit Equipment 30000 Accumulated Depreciation - Equipment 21000 Cash 2700 Loss on Disposal of Equipment 10300 Equipment Prepare the journal entries to record the exchange on the books of both companies, assuming the exchange is determined not to have commercial substance. (Credit account titles are automatically indented when the 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.) Blue Limited Account Titles and Explanation Debit Credit