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 $135,000 67,000 79,500 Phifer's Asset $155,000 75,000 71,500 To equalize the exchange, Phifer paid Robers $8,000 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.)