Tamarisk Inc. purchased a commercial grade soft-serve ice cream machine on September 30, 2017. Tamarisk traded in its existing machine and paid cash in the transaction. The details of the transaction are as follows: . List price of new freezer $18,675 Cash paid 12,420 Cost of old machine (4-year life, $1,350 salvage value) 15,750 Accumulated depreciation-old machine (straight-line) 7,200 Secondhand fair value of old machine 6,030 Prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Tamarisk's fiscal year ends on December 31, and Tamarisk 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: (To record current depreciation) (To record exchange of the machine) (b) Exchange lacks commercial substance: (To record current depreciation) (To record exchange of the machine)