C. Account Name Dr. Cr. Equipment (new) 0 0 ooooo 0 Equipment (old) 0 0 d. Account Name Dr. Cr. Cash 0 Equipment (new) 0 ooooo 0 Equipment (old) 0 0 Reporting an Asset Exchange Clarksten Co. and Kay Inc. exchange equiprrcrit. Information related to this exchange for both companies follows. Clarksten Co. Kay Inc. Equipment given up: Cyuipment (original $24,000 $20,000 Accumulated Depreciation 8.000 9.600 Fairwa 14,40 19,700 Cash eachanged $4,000) 4800 Answer the following questions, rounding your answers to the nearest whole number. a. Record the exchange for Clarksten Co. assuming the transaction has commercial substance. b. Record the exchange for Kay Inc, assuming the transaction has commercial substance, C. Record the exchange for Clarksten Co. assuming the transaction lacks commercial substance. d. Record the exchange for Kay Inc. assuming the transaction lacks commercial substance Note: If a line in a journal entry isn't required for a transaction, select "N/A" as the account name and leave the Dr. and Cr.answers blank (zero) Exchange has commercial substance Exchange lacks commercial substance a. Dr. Cr. Account Name Equipment new Accumulated Depreciation Fuipment fold Account Name Dr. Cr. Cash Equipment w Accumulated Depreciation Equipment told