To equalize the exchange, Phifer paid Robers $19,000 in cash. Required: Record the exchange for both Robers and Phifer. The exchange has commercial substance for both companies. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 Record the exchange of equipment for Robers Company. The exchange has commercial substance for both companies. To equalize the exchange, Phifer paid Robers $19,000 in cash. Note: Enter debits before credits