On September 3, 2018, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows: Robers Asset Phifer's Asset Original cost Accumulated depreciation Fair value $125,000 59,000 76,500 $145,000 67,000 70,500 To equalize the exchange, Phifer paid Robers $6,000 in cash. Required Record the exchange for both Robers and Phifer. The exchange has commercial substance for both companies. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)