Carla Company purchased an electric press on June 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. Carla's fiscal year ends on December 31 , and depreciation has been recorded through December 31,2024. (Credit account tities are outomatically indented when omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries) (To record current depreciation.) Equipment \begin{tabular}{rr|} \hline 24300 \\ \hline \end{tabular} Accumulated Depreciation-Equipment Cash Equipment Gain on Disposal of Equipment (To record exchange of the equipment.) (b) Exchangelacks commercial substance: Depreciation Expense Accumulated Depreciation-Equipment (To record current depreciation.) Equipment Actumulated Depreciation-Equipment Equipment tquipment Gain on Disposal of Equipment (To record exchange of the equipment.) b) Exchange lacks commercial substance: Depreciation Expense Accumulated Depreciation-Equipment (To record current depreciation.) Equipment Accumulated Depreciation-Equipment Equipment Gain on Disposal of Equipment Cash (To record exchange of the equipment.)