E10.18 (LO 3) (Non-Monetary Exchange) Montgomery Ltd. purchased an electric wax melter on April 30, 2023, by trading in its old gas model and paying th balance in cash. The following data relate to the purchase. Instructions Prepare the journal entry or entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Montgomery's year ends on December 31 , and depreciation has been recorded through December 31, 2022