Waterway is a cologne retailer. During 2023, Waterway had the following non-monetary transactions. Scenario 1: Waterway exchanged 5,500 of its common shares (FMV of $10 each) for equipment with a FMV of $60,500. Scenario 2: Waterway traded machinery with a cost of $14,300 and accumulated depreciation of $5,720 for a piece of inventory management equipment owned by Francis Inc.. The equipment is expected to help increase the speed with which Waterway fills its orders. An additional $3,000 was paid by Waterway in the exchange. The inventory management equipment has a cost of $18,600 and accumulated depreciation of $11,160 on Francis' accounting records. Fair values for the machinery and the inventory management equipment are $9,480 and $12,480 respectively. For each of the above independent scenarios, prepare the journal entry necessary to record the transaction, assuming that Waterway follows IFRS. (Credit account titles are automatically indented when the 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. List all debit entries before credit entries.)