2 part question, please explain work!

Exchange of Assets Two independent companies, Denver and Bristol, each own a warchouse, and they agree to an exchange in which no cash changes hands. The following information for the two warehouses is available: Required: 1. Assuming the exchange has commercial substance, prepare journal entries for Denver and Bristol to record the exchange. 2. Assuming the exchange does not have commercial substance, prepare journal entries for Denver and Bristol to record the exchange. 3. Next Level What is the justification of accounting for the exchange differently when the exchange has commercial substance versus when it does not? Exchange of Assets Use the same information as in E10-9, except that the warchouse owned by Denver has a fair value of $28,000, and therefore, Denver agrees to pay Bristol $2,000 to complete the exchange. Required: Assuming the exchange has commercial substance, prepare journal entries for Denver and Bristol to record the