Check my work On September 3, 2018, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows Original cost Accumulated depreciation Fair value $200,000 119,000 99,000 $220,000 127,000 78,000 To equalize the exchange, Phifer paid Robers $21,000 in cash Required: Record the exchange for both Robers and Phifer. The exchange has commercial substance for both companies. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the exchange of equipment for Robers Company. The exchange has commercial substance for both companies. To equalize the exchange, Phifer paid Robers $21,000 in cash. Note: Enter debits before credits. K Prev 3 of 4 Next> Journal entry worksheet Record the exchange of equipment for Robers Company. The exchange has commercial substance for both companies. To equalize the exchange, Phifer paid Robers $21,000 in cash Note: Enter debits before credits Clear entry Journal entry worksheet Record the exchange of equipment for Phifer Corporation. The exchange has commercial substance for both companies. To equalize the exchange, paid Robers $21,000 in cash. Phifer Note: Enter debits before credits. Event General Journal Debit Credit 2 View general journal Record entry Clear entry