Bonita Corporation wishes to exchange a machine used in its operations. Bonita has received the following offers from other companies in the industry. 1. Windsor Company offered to exchange a similar machine plus $29,900. (The exchange has commercial substance for both parties.) 2. Sheridan Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) 3. Skysong Company offered to exchange a similar machine, but wanted $3,900 in addition to Bonita's machine. (The exchange has commercial substance for both parties.) In addition, Bonita contacted Concord Corporation, a dealer in machines. To obtain a new machine, Bonita must pay $120,900 in addition to trading in its old machine. Bonita Windsor Sheridan Skysong Concord Machine cost $208,000 Accumulated depreciation Fair value 78,000 58,500 119,600 89,700 $156,000 $197,600 $208,000 92,300 97,500 123,500 $169,000 -0- 119,600 240,500 For each of the four independent situations, prepare the journal entries to record the exchange on the books of each company. (Credit account titles are automatically indented when amount is not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation 1. Bonita Corporation Debit Credit