Question: PRINTER VERSION HACK NEXT Exercise 10-19 (Part Level Submission) Stellar Company exchanged equipment used in its manufacturing operations plus $3,780 in cash for similar equipment
PRINTER VERSION HACK NEXT Exercise 10-19 (Part Level Submission) Stellar Company exchanged equipment used in its manufacturing operations plus $3,780 in cash for similar equipment used in the operations of Pearl Company. The following information pertains to the exchange. Equipmenticost) Accumulated depreciation Fair value of equipment Cash given up Stellar Co. $35,280 23,940 15.750 3.750 Pearl Co. $35,280 12,600 19.530 Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance. (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 for the amounts.) Debit Credit Account Titles and Explanation Stellar Company
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