Iniesta Company traded machinery with original cost of $220,000 and accumulated depreciation of $30,000. It received in exchange from Xavi Company a machine with a fair value of $200,000. Iniesta also paid cash of $20,000 in the exchange. Xavis machine has a book value of $190,000. What amount of gain or loss should Iniesta recognize on the exchange assuming the transaction lacks commercial substance? What are the journal entries for Iniesta with and without commercial substance? What are the journal entries for Xavi company?