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 $ 165,000 91.ee 88. see Phifer's Asset $185.000 99.99 74,500 To equalize the exchange. Phifer paid Robers $14.000 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 transactlon/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet Record the exchange of equipment for Robers Company. The exchange has commercial substance for both companies. To equalize the exchange, Phifer paid Robers 514,000 in cash. Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet 12 Record the exchange of equipment for Phifer Corporation. The exchange has commercial substance for both companies. To equalize the exchange, Phifer paid Robers $14,000 in cash. Note: Enter debits before credits Event General Journal Debit Credit