ABC Inc. exchanged equipment for two delivery trucks. The original cost of the equipment was $$968,270.$ The accumulated depreciation of the equipment, on the date of the exchange, was $$887,020.$ The fair value of the equipment was $$72,000.$ In addition, ABC Inc. paid $$250,800$ to complete the exchange.

a$.$ Prepare the journal entry ABC Inc. would use to record the exchange transaction assuming that the transaction has commercial substance.

b$.$ Prepare the journal entry ABC Inc. would use to record the exchange transaction assuming that the transaction does not have commercial substance.

Do not round intermediate calculations and round final answer to the nearest whole dollar.

Note: All General Journal entries should be in proper format.