Whispering Corporation exchanged equipment used in its manufacturing operations for equipment used in the operations of MetlockLtd. The following information pertains to the exchange:

Current Attempt in Progress Whispering Corporation exchanged equipment used in its manufacturing operations for equipment used in the operations of Metlock Ltd. The following information pertains to the exchange: Whispering Corp. Metlock Ltd. Equipment (cost) $84,100 $84,100 Accumulated depreciation 46,600 40,200 Fair value of old equipment 42,100 42,900 Cash given up 800 Both companies agreed that the exchange did not have commercial substance. Prepare the necessary journal entries to record the asset exchange on the books of both companies. (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.) Whispering Corporation: Account Titles and Explanation Debit Credit Metlock Ltd.: Account Titles and Explanation Debit Credit