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Oriole Company purchased an electric wax melter on Apri $0.2020, by trading in its old gas model and paying the balance in cash. The following

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Oriole Company purchased an electric wax melter on Apri $0.2020, by trading in its old gas model and paying the balance in cash. The following data relate to the purchase Prepare the journal entries necessary torecord this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Oride's fiscalyear ends on December 31 , and depreciation has been recorded through December 31 . 2019. (Credit decount titles are automatically yindented when amount is entered. Do not indent manually. If no entry is requiled, select "No Entry" for the occount tities and enter O for the amounts) (Torecord current depreciation? Equipmen Accumulated Degredation Equipnent Crin Equpenent: Gyin an Oraosil af Eauiphent (To record exchaigge of the equipment.) (b) Exchange lachs commercial substance: Depreciation Expense Accumulased Desreciation-Equipricnt (Torecord current depreciation) Equipment Accurnuloted Denenciation-Equipment Cash Eotipmerit Gain on Disposa nf tiougment. Oriole Company purchased an electric wax melter on Apri $0.2020, by trading in its old gas model and paying the balance in cash. The following data relate to the purchase Prepare the journal entries necessary torecord this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Oride's fiscalyear ends on December 31 , and depreciation has been recorded through December 31 . 2019. (Credit decount titles are automatically yindented when amount is entered. Do not indent manually. If no entry is requiled, select "No Entry" for the occount tities and enter O for the amounts) (Torecord current depreciation? Equipmen Accumulated Degredation Equipnent Crin Equpenent: Gyin an Oraosil af Eauiphent (To record exchaigge of the equipment.) (b) Exchange lachs commercial substance: Depreciation Expense Accumulased Desreciation-Equipricnt (Torecord current depreciation) Equipment Accurnuloted Denenciation-Equipment Cash Eotipmerit Gain on Disposa nf tiougment

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