Problem 5 Bentley Company exchanged equipment with an appraised value of $4,680,000, a recorded cost of $7,200,000 and accumulated depreciation of $3,600,000 with Luke Corporation for equipment Luke owns. The equipment has an appraised value of $4,520,000, a recorded cost of $8,640,000, and accumulated depreciation of $4,752,000. Luke also gave Bentley $160,000 in the exchange. Assume depreciation has already been updated. Requirement A: Prepare the entries on both companies' books assuming that the exchange had commercial substance. Requirement B: Prepare the entries on both companies' books assuming that the exchange lacked commercial substance