What about the journal entries for the second part of the question

Prepare the journalentries to record the exchange on the books of both companies. Assume that the exchange has commercial substance. (Credit occount 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 Of for the amounts.) Sage Company exchanged equipment used in its manufacturing operations plus $3,360 in cash for similar equipment used in the operations of Pronghorn Company. The following information pertains to the exchange