Wildhorse Corp. exchanged Building 24, which has an appraised value of $1,757,000, a cost of $2,755,000, and accumulated depreciation of $1,245,000, for Building M which belongs to Ayayai Ltd. Building M has an appraised value of $1,617,000, a cost of $3,075,000, and accumulated depreciation of $1,801,000. Ayayai paid Wildhorse the difference between the appraised values of the two buildings. Assume depreciation has been updated to the date of exchange. Prepare the entries on both companies' books, assuming the buildings are similar assets and there is no commercial substance for either company. (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. List all debit entries before credit entries.) Account Titles Wildhorse Corp. Ayayai Ltd. Debit Credit 11

Wildhorse Corp. exchanged Building 24 , which has an appraised value of $1,757,000, a cost of $2,755,000, and accumulated depreclation of $1,245,000, for Building M which belongs to Ayayai Ltd, Building M has an appraised value of $1,617,000, a cost of $3,075,000, and accumulated depreciation of $1,801,000. Ayayai paid Wildhorse the difference between the appraised values of the two buildings. Assume depreciation has been updated to the date of exchange. Prepare the entries on both companies' books, assuming the buildings are similar assets and there is no commercial substance for either company. (Credit account titles ore outomatically 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. List all debit entries before credit entries.)