Shamrock Inc. purchased a commercial grade soft-serve ice cream machine on September 30, 2017. Shamrock traded in its existing machine and paid cash in the transaction. The details of the transaction are as follows: List price of new freezer $22.410 . Cash paid 14,904 . Cost of old machine (4-year life, $1,620 salvage value) 18,900 . Accumulated depreciation-old machine (straight-line) 8,640 . Secondhand fair value of old machine 7,236 Prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Shamrock's fiscal year ends on December 31, and Shamrock recorded depreciation on the old machine through September 30, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Exchange has commercial substance: Depreciation Expense 13871 Accumulated Depreciation-Machinery 13871 (To record current depreciation) Accumulated Depreciation-Machinery 22511 Machinery 22140 Cash 14904 Machinery 18900 Gain on Disposal of Machinery 10847 (To record exchange of the machine) (b) Exchange lacks commercial substance: Depreciation Expense 13871 Accumulated Depreciation Machinery 13871 (To record current depreciation) Machinery Accumulated Depreciation-Machinery 22511 Machinery 18900 Cash 14904 Gain on Disposal of Machinery (To record exchange of the machine)