SAMTO, Inc. transferred $400 cash and a machine (cost, $10,000; accumulated amortization $9,000) to SLO UGH, Inc. in return for SLO UGH's similar machine (cost $12,000, accumulated amortization, $10,500). Provide SAMTO's entry for the exchange assuming the market value of SAMTO's machine was $1,600.

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The Answer of SAMTO, Inc. transferred $400 cash and a machine (cost, $10,000; accumulated amortization $9,000) to SLO UGH, Inc. in return for SLO UGH's similar machine (cost $12,000, accumulated amortization, $10,500). Provide SAMTO's entry for the exchange assuming the market value of SAMTO's machine was $1,600.