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 Phifer's Asset $205,000 $225,000 123,000 100,500 131,000 78,500 To equalize the exchange. Phifer paid Robers $22,000 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 here to search Journal entry worksheet ING 567PM is 13210 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 1 2 Record the exchange of equipment for Robers Company. The exchange has) commercial substance for both companies. To equalize the exchange, Phifer paid Robers $22,000 in cash. Note Enter debits before credits Event 1 General Journal Debit Credit > 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