Skysong 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 List price of new meter Cash paid Cost of old melter (5-year life. 5800 salvage value) Accumulated depreciation-old meltier (straight-line Secondhand fair value of old melte $17,700 11.200 12.500 7.100 5,800 Prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Skysong's fiscal year ends on December 31.and depreciation has been recorded through December 31, 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. Ust all debit entries before credit entries) No. Account Titles and Explanation (a) Exchange has commercial substance Debit Credit (To record current depreciation) (To record exchange of the equipment) (b) Exchange lacks commercial substance To record current depreciation) florecand exchange of the equipment)