Stacey Limited exchanged equipment that it uses in its manufacturing operations for similar equipment that is used in the operations of Chokar Limited. Stacey also paid Chokar $3,000 in cash. The following information pertains to the exchange. (a) - Your answer is partially correct. Prepare the journal entries to record the exchange on the books of both companies, assuming the exchange is determined to have commercial substance. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries.) Prepare the journal entries to record the exchange on the books of both companies, assuming the exchange is determined not to have commercial substance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Chokar Limited Account Titles and Explanation