Recording Asset Exchanges

Required

Prepare the entry to record acquisition of the new equipment under each of the following separate cases.

a$.$ Transaction has commercial substance. No cash is involved.

b$.$ Transaction has commercial substance. Cash of $$3,600$ is paid by Miley. PLEASE ALSO HELP SOLVE "EXCHANGE LACKS COMMERCIAL SUBSTANCE

c$.$ Transaction lacks commercial substance. No cash is involved.

d$.$ Transaction lacks commercial substance. Cash of $$1,200$ is paid by Miley.

e$.$ Transaction lacks commercial substance. Cash of $$2,400$ is received by Miley.

Exchange has Commercial Substance

Exchange Lacks Commercial Substance

Prepare the entry to record acquisition of the new equipment under each of the following separate cases.

a$.$ Transaction has commercial substance. No cash is involved.

b$.$ Transaction has commercial substance. Cash of $$3,600$ is paid by Miley. PLEASE ALSO HELP WITH "EXCHANGE LACKS COMMERCIAL SUBSTANCE"