Two independent companies, Denver and Bristol, each own a warehouse, and they agree to an exchange in which no cash changes hands. The following information for the two warehouses is available: Cost Denver $80,000 58,000 18,500 Bristol $30,500 23,000 Accumulated depreciation Fair value 18,500 Required: 1. Assuming the exchange has commercial substance, prepare journal entries for Denver and Bristol to record the exchange 2. Assuming the exchange does not have commercial substance, prepare journal entries for Denver and Bristol to record the exchange