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Presented below are two independent transactions. Both transactions have commercial substance. 1. Bridgeport Co. exchanged old trucks (cost $60,300 less $18,300 accumulated depreciation) plus cash of $15,300 for new irucks. The old trucks had a fair value of $38,700. 2. Concord Inc trades its used machine (cost $11.580 less $3,860 accumulated depreciation) for a new machine. In addition to exchanging the old machine (which had a fair value of $10,620 ). Concord also paid cash of $3,100. (a) Your answer is correct. Prepare the entry to record the exchange of assets by Bridgeport Co. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Prepare the entry to record the exchange of assets by Bridgeport Co. (Credit account titles are automaticolly indented when 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.) Prepare the entry to record the exchange of assets by Concord inc. (Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)