Whispering Company exchanged equipment used in its manufacturing operations plus $3,780 in cash for similar equipment used in the operations of Metlock Company. The following information pertains to the exchange. Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up Whispering Co. $35.280 23,940 15.750 3.780 Metlock Co. $35,280 12,600 19,530 (a) Your answer has been saved, See score details after the due date. Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) (b) Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange has commercial substance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter O for the amounts.)