Monty Corp. exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $37,200 (cost $67,200 less accumulated depreciation $30,000). Its fair value is $23,100, and cash of $6,000 is paid. Prepare the entry to record the exchange, assuming the transaction has commercial substance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry isrequired,select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit

Marigold Co. has equipment that cost $76,500 and that has been depreciated $49,600. Record the disposal under the following assumptions. (a) (b) (c) (List all debit entries before credit entries. 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.) It was discarded with no cash received. It was sold for $22,100. It was sold for $28,200. No. Account Titles and Explanation (a) (b) U Debit Credit

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George Moss, owner of Moss Interiors, is negotiating for the purchase of Oriole Galleries. The following balance sheet of Oriole is given in an abbreviated form as follows. Cash Land Assets Buildings (net) Equipment (net) Copyrights (net) Total assets 1. 2. $115,000 71,000 201,500 176,000 31,000 $594,500 Moss and Oriole agree that: Oriole Gallaries Balance Sheet As of December 31, 2025 Liabilities and Stockholders' Equity Accounts payable Notes payable (long-term) Total liabilities Common stock Retained earnings Total liabilities and stockholders' equity Land is undervalued by $28,000. Equipment is overvalued by $4,000. $212,400 24,800 $49,800 307,500 357,300 237,200 $594,500 Oriole agrees to sell the gallery to Moss for $381,000. Prepare the entry to record the purchase of Oriole Galleries on Moss's books. (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…