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On September 3, 2021, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows: Robers Asset Phifers AssetOriginal cost $ 190,000 $ 210,000 Accumulated depreciation 111,000 119,000 Fair value 96,000 77,000 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.