Sarasota Ltd. purchased an electric wax melter on April 30, 2023, 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. Sarasota's year ends on December 31, and depreciation has been recorded through December 31,2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Include in your journal entry separate account entries for both the new and old equipment. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.)