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 $185,000 107,000 94, 500 $205,000 115,000 76,500 To equalize the exchange, Phifer paid Robers $18,000 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.) View transaction list Journal entry worksheet 2 Record the exchange of equipment for Robers Company. The exchange has commercial substance for both companies. To equalize the exchange, Phifer paid Robers $18,000 in cash Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal