Windsor Company exchanged equipment used in its manufacturing operations plus $3,540 in cash for similar equipment used in the operations of Sheridan Company. The following information pertains to the exchange. Equipment Windsor Co. Sheridan Co. Equipment (cost) $33,040 $33,040 Accumulated depreciation 22,420 11,800 Fair value of equipment Cash given up 14,750 3,540 18,290 (b) eTextbook and Media List of Accounts 33040 Attempts: 3 of 15 used (a) Your answer is correct. 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 titles and enter O for the amounts.) Account Titles and Explanation Windsor Company: Equipment Debit 14160 Credit Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange has 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 titles and enter O for the amounts.) Account Titles and Explanation Windsor Company. Debit Credit Accumulated Depreciation-Equipment Equipment Cash Sheridan Company: Equipment 22420 14750 Accumulated Depreciation-Equipment 11800 Cash 3540 Loss on Disposal of Equipment 2950 Equipment 33040 Sheridan Company 3540 33040 eTextbook and Media