Sneezy Co. wishes to exchange a vehicle that it has used in its operations. The vehicle has a fair market value of $50,000, cost Sneezy $55,000, and has $25,000 of accumulated depreciation on it. Sneezy has received the following offers for the vehicle: 1) Grumpy Co. offers to exchange one of its vehicles, but demands $5,000 in cash from Sneezy in addition to Sneezys vehicle. Grumpys vehicle cost Grumpy $90,000 to purchase and has $25,000 of accumulated depreciation on it. This exchange would have commercial substance. 2) Dopey Co. offers to exchange one of its vehicles with a fair market value of $40,000 for Sneezys vehicle. Dopeys vehicle cost $80,000 and has $40,000 of accumulated depreciation on it. This exchange requires cash to be exchanged and would lack commercial substance. For each of the two exchange scenarios presented above, provide the journal entry that each company would make to record the exchange.