On September 3, 2021, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows: Original cost Accumulated depreciation Fair value Robers' Asset $170,000 95,000 90,000 Phifer's Asset $190,000 103,000 75,000 To equalize the exchange, Phifer paid Robers $15,000 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.)