Check On September 3, 2021, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows: Original cost Accumulated depreciation Fair value Robers Asset $180.000 103,000 93,000 Phifer's Asset $200,000 111, eee 76,eee To equalize the exchange, Phifer paid Robers $17,000 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 $17,000 in cash. 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 $17,000 in cash. Note: Enter debits before credits. Event General Journal Debit Credit Record the exchange of equipment for Phifer Corporation. The exchange has commercial substance for both companies. To equalize the exchange, Phifer paid Robers $17,000 in cash. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal