Help filling in journal entries

Traverse Corporation traded a piece of equipment with another company in exchange for another piece of equipment. Details of the exchange are as follows: (Click the icon to view the details,) Requirements a. Record the transaction for Traverse, assuming the exchange has no commercial substance. b. Record the transaction for Traverse, assuming the exchange has commercial substance. c. Explain the rationale for the accounting treatment for exchanges without commercial substance. i Data Table Requirement a. Record the transaction for Traverse, assuming the exchange has no commercial substance. (F Date Accounts Debit Credit Historical cost of old asset $ 250,000 (a) Accumulated depreciation of old asset 70,000 Fair market value of old asset 207,500 Fair market value of new asset 217,500 Cash paid 10,000 Print Done Requirement b. Record the transaction for Traverse, assuming the exchange has commercial substance. (Red Date Accounts Debit Credit (b) Choose from any list or enter any number in the input fields and then continue to the next