Complete part C

BACK URCES Problem 10-10 (Part Level Submission) During the current year, Coronado Construction trades an old crane that has a book value of $129,500 (original cost $201,600 less accumulated depreciation $72,000) for a new crane from Whispering Manufacturing Co. The new crane cost Whispering 5237,600 to manufacture and is ciassified as inventory. The following information is also ava lable. Coronade Const. Whispering Mfg. Co Fair value of old crane Fair value of new crane Cash paid Cash received $118,060 art $288,000 169,920 169,920 Your answer is correct. Study Assuming that this ekchange is corsidered to have commercial substance, prepare the journal entries on the books of (3) Coronado Construction and (2) Whispering Manufacturing. (Credit account tities are automatically indented when amount is entered. Do not indent manually. If ne entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit Corenado Construction 288000 lated Depreciation-Equipment on Disposal of Equipment 115 Version 4.24.10.8