Blue Company purchased an electric wax melter on April 30, 2025, by trading in its old gas model and paying the balance in cash. The following data relate to the purchase. Prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Blue's fiscal year ends on December 31, and depreciation has been recorded through December 31,2024. (Credit account thles are outomaticolly Indented when omount is entered, Do not indent manually. If no entry is requlred, select "No Entry" for the occount tities and enter 0 for the amounts. Llst all deblt entries before credit entries.) (b) Exchangelacks commercial substance: (To record current depreciation.) (To record exchange of the equipment.)