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. List price of new melter Cash paid Cost of old melter (5-year life, $1,100 salvage value) Accumulated depreciation-old melter (straight-line) Secondhand fair value of old melter $22,800 14,400 16,100 9.100 7,500 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 titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) No. Account Titles and Explanation (a) Exchange has.commercial substance: Depreciation Expense Debit 1000 Credit No. Account Titles and Explanation (a) Exchange has commercial substance: Depreciation Expense Accumulated Depreciation Equipment Debit 1000 (To record current depreciation.) 21900 Equipment Accumulated Depreciation-Equipment 10200 Cash Equipment Gain on Disposal of Equipment (To record exchange of the equipment.) (b) Exchange lacks commercial substance: Depreciation Expense 1000 Credit 1000 14400 16100 500 (To record exchange of the equipmen (b) Exchange lacks commercial substance: Depreciation Expense Accumulated Depreciation - Equipment (To record current depreciation.) 1000 Equipment 21900 Accumulated Depreciation-Equipment 10200 Cash Equipment Gain on Disposal of Equipment (To record exchange of the equipment.) 1000 14400 16100 500