1a Corporation wishes to exchange a machine used in its operations. Pina has received the following offers from other companies the industry. Grouper Company offered to exchange a similar machine plus $26,220. (The exchange has commercial substance for both parties.) Monty Company offered to exchange a similar machine. The exchange lacks commercial substance for both parties.) Flounder Company offered to exchange a similar machine, but wanted $3.420 in addition to Pina's machine. (The exchange has commercial substance for both parties.) addition, Pina contacted Culver Corporation, a dealer in machines. To obtain a new machine, Pina must pay $106,020 in addition trading in its old machine. lachine cost ccumulated depreciation air value Pina $182,400 68,400 104,880 Grouper $136.800 51.300 78,660 Monty $173.280 80,940 104,880 Flounder $182,400 85.500 108,300 Culver $148,200 -0- 210,900 reach of the four independent situations, prepare the journal entries to record the exchange on the books of each company. edit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for account titles and enter for the amounts.) Debit Credit lo. Account Titles and Explanation Pina Corporation Grouper Company Pina Corporation Monty Company 3. Pina Corporation Flounder Company 4. Pina Corporation Culver Company (To record exchange of inventory)