Aylmer Inc. exchanged equipment used in its business for similar equipment used by Belmont Inc. Belmont paid Aylmer $5,450 cash as part of the deal. The following information relates to the assets of the two companies at the time of the exchange. Equipment (cost) Accumulated Depreciation Fair value of the equipment $ $ $ Aylmer Inc. 61,350 $ 44,250 $ 23,040 $ Belmont Inc. 72,030 57,980 18,200 Instructions: a) Prepare the journal entry for Aylmer Inc. To record the transaction if the exchange is deemed to have commercial substance. Date Description Dr Cr b) Prepare the journal entry for Belmont Inc. to record the transaction if the exchange is deemed to have NO commercial substance. Date Description Dr Cr