please answer both parts

Wildhorse Company purchased an electric wax melter on April 30, 2025, 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 to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Widdhorse's fivcal year ends on December 31. and depreciation has been recorded through December 31 , 2024. (Credit account titles are outomatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter ofor the amounts, List all debit entries before credit entries) 2024. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. List all debit entries before credit entries.) (b) Exchangelacks commercial substance: (To record current depreciation.) (Torecord exchange of the equipment) eTextbook and Media List of Accounts