Oriole Corp. exchanged Building 24, which has an appraised value of $1,884,000, a cost of $2,802,000, and accumulated depreciation of $1,367,000, for Building M which belongs to Skysong Ltd. Building M has an appraised value of $1,632,000, a cost of $3,098,000, and accumulated depreciation of $1,706,000. Skysong paid Oriole the difference between the appraised values of the two buildings. Assume depreciation has been updated to the date of exchange. Prepare the entries on both companies books, assuming the buildings are similar assets and there is no commercial substance for either company.

For each company neets to have 2 double entries.