thank you! Whispering Compary exchanged equipment used in...
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Accounting
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Whispering Compary exchanged equipment used in its manufacturing operations plus $3,660 in cash for similar equipment used in the operations of Metlock Company. The following information pertains to the exchange. (a) Prepare the journal entries to record the exchange on the books of both corrpanies. Assume that the exchange tackscommercial substance, (Credit occount titles ore automatically indented when amount is entered, Do not indent manualiy. If no entry is required, select 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 automatlcally Indented when amount is entered. Do not indent manualty, If no entry is requlred, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries) Metlock Company
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