On May 12, Benjamin traded its office computer, which was too small for its needs, to Norton Corporation in exchange for their computer. No money changed hands. Internal information from both companies reveals the following: On June 7, Benjamin exchanged some heavy-duty equipment with Largo Manufacturing for a similar asset. Details are as follows: Requirements: Analyze the information above, and prepare a memorandum addressing the correct accounting for the transactions above. In your memo, specifically address the following items: - Apply and explain all relevant ASC sections related to the each transaction - Record all entries for Benjamin. - Show and explain all calculations for each journal entry, and use the ASC to support your assumptions and computations. - Where appropriate, identify alternative journal entries and/or computations that would also agree with the ASC and standard accounting practice. - When alternative treatments are possible, illustrate each alternative, identify the one preferred or "best" treatment, and support your recommendation. - If there are no alternative treatments, explain why this is the case. Show and explain all calculations for each journal entry, and use the ASC to support your assumptions and computations