Help needed with journal entries.

Splish Company purchased an electric wax melter on April 30, 2025. by trading in its old gas model and paying the balance in cash. The following data relate to the purchase. Prepare the journal entries necessary to record this exchange. assiming that the exchango (a) has commercial subrtance, and (b) lachs. commercial substance. Splish's fiscal year ends on December 31 , and depreciation has been recorded through December 31. 2024 (Credit account titer are outomotically indented when amount is entered. Do not indent manedill, If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries.) No. Account Titles and Explanation Debit Credit (a) Exchange has commercial substance: (To record current depreciation-) (To record exchange of the equipment) (b) Exchange lacks commercial substance: (To record current depreciation.) (To record exchange of the equipment.)