During the current year, Sheffield Construction Ltd. traded in two relatively new small cranes (cranes no. 6RT and S79) for a larger crane that Sheffield expects will be more useful for the particular contracts that the company has to fulfill over the next couple of years. The new crane is acquired from Bramble Manufacturing Inc., which has agreed to take the smaller equipment as trade-ins and also pay $14,500 cash to Sheffield. The new crane cost Bramble $174,000 to manufacture and is classified as inventory. The following information is available:

		Sheffield Const.		Bramble Mfg.
Cost of crane #6RT		$129,000
Cost of crane #S79		118,000
Accumulated depreciation, #6RT		14,000
Accumulated depreciation, #S79		17,000
Fair value, #6RT		126,000
Fair value, #S79		88,500
Fair value of new crane				$200,000
Cash paid				14,500
Cash received		14,500

Assume that this exchange lacks commercial substance. Prepare the journal entries on the books of (1) Sheffield Construction and (2) Bramble Manufacturing. Bramble uses a perpetual inventory system. (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.)

Sheffield Construction
Account Titles and Explanation	Debit	Credit

Bramble Manufacturing
Account Titles and Explanation	Debit	Credit