please help me solve! Windsor Company exchanged machinery with an...
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Windsor Company exchanged machinery with an appraised value of $3,494,000, a recorded cost of $5,302,000 and accumulated depreciation of $2,651,000 with Bonita Corporation for machinery Bonita owns. The machinery has an appraised value of $3,319,000. a recorded cost of $6,340,000, and accumulated depreciation of $3,487,000, Bonita also gave Windsor $175,000 in the exchange. Assume depreciation has already been updated. Prepare the entries on both companies' books assuming that the exchange had commercial substance. (Credit account titles are automatically indented when the 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. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
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