Instructions Two independent companies, Denver and Bristol, each own a warehouse, and they agree to an exchange in which no cash changes hands. The following information for the two warehouses is available: Denver $100,000 Bristol $56,500 Cost Accumulated depreciation Fair value 23,000 50,000 44,500 44,500 Required: 1. Assuming the exchange has comercial substance, prepare journal entries for Denver and Bristol to record to exchange 2. Assuming me exchange does not have comercial substance, prepare journal entries for Denver and Bristol to record the exchange 3. Next Level What is the justification of accounting for the exchange leventy when the exchange has commercial batance versus when it does not