On August 1, Hyde, Inc. exchanged productive assets with Wiggins, Inc. Hydes asset is referred to below as Asset A, and Wiggins is referred to as Asset B. The following facts pertain to these assets.

		Asset A		Asset B
Original cost		$96,000		$110,000
Accumulated depreciation (to date of exchange)		40,000		47,000
Fair value at date of exchange		60,000		75,000
Cash paid by Hyde, Inc.		15,000
Cash received by Wiggins, Inc.				15,000

Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Hyde, Inc. and Wiggins, Inc. in accordance with generally accepted accounting principles.

Assuming that the exchange of Assets A and B lacks commercial substance, record the exchange for both Hyde, Inc. and Wiggins, Inc. in accordance with generally accepted accounting principles.