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 $25,760. (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 $3,360 in addition to Bonitas 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 $104,160 in addition to trading in its old machine.

		Bonita		Windsor		Sheridan		Skysong		Concord
Machine cost		$179,200		$134,400		$170,240		$179,200		$145,600
Accumulated depreciation		67,200		50,400		79,520		84,000		0
Fair value		103,040		77,280		103,040		106,400		207,200

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 entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	Bonita Corporation
	Windsor Company
2.	Bonita Corporation
	Sheridan Company
3.	Bonita Corporation
	Skysong Company
4.	Bonita Corporation
	Concord Company
	(To record exchange of inventory)
	(To record cost of inventory)