Crane Company purchased anelectric wax melice on April 30, 2025, by trading in its old gas model and paying the bulance in cash. The followine data relate to the purchure. Prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (0) tacks cornmercial substance. Crane's fiscal year ends on December 31, and depreciation has been recorded through December 31.2024 . the account titer and enter Ofor the amounts. (hat all debit entries before credit entries) (b) Exchangelacks commercial substance: (To record current depreciation) (To record exchange of the equipment)