Oriole Company purchased an electric wax melter on April 30,2025, by trading in its old gas modal and paying the balance in cash the following datarelate to the purchase. Prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substanct, and (b) Iacks commercial substance, Oriole's fiscal year ends on December 31, and depreciation has been recorded through December 31, 2024, (Credit occount tifies are automaticolly indented when amount is entered. Do not indent manualik. If no entryis requalred, seleat "No Entry" for the account titles and enter ofor the amounts. Uit all debit entries before creditentries) No. Account Tittes and Explanation (a) Exchange has commercial substance: Depreciation Expense Accumulated Depreciation-Equipenent (To record current depreciation.) Equipment Accumulated Depreciation-Equipment Debit (To record exchange of the equipment.) 5.57/12 (b) Exchangelacks commercial substance: Depreciation Expense Accumulated Depreciation - Equipment 980 (To record current depreciation.) Equlpment 21120 Accumulated Depreciation - Equipment Equipment Accumulated Depreciation-Equipment (To record exchange of the equipment.)