Do the entries to record the exchange for both companies

1. The exchange has commercial substance
2. Now assume,the exchange lacks commercial substance.

Best Company owns a building that it leases to others. The building's fair value is $1,580,000 and its book value is $980,000 (original cost of $2,100,000 less accumulated depreciation of $1,120,000). Best exchanges this for a building owned by the Wurst Company. The building's book value on Wurst:s books is $2,200,000 (original cost of $2,700,000 less accumulated depreciation of $500,000). Wurst also gives Best $80,000 to complete the exchange