Current Attempt in Progress

Buffalo Ltd$.$ exchanged equipment used in its manufacturing operations for equipment used in the oparations of Carla Ltd$.$ The

following information pertains to the exchange:

Both companies agresd that the exchange had commercial substance for both companies. 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 $0$ for the amounts. List all debit entries

before credit entries.$)$

Account Titles

Buffalo Ltd$.$:

Carla Lted: