On September 3, 2021, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows:

	Robers Asset			Phifers Asset
Original cost	$	210,000		$	230,000
Accumulated depreciation		127,000			135,000
Fair value		102,000			79,000

To equalize the exchange, Phifer paid Robers $23,000 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.)