Buffalo Corporation wishes to exchange a machine used in its operations. Buffalo has received the following offers from other companies in the industry.

1.		Carla Company offered to exchange a similar machine plus $44,100. (The exchange has commercial substance for both parties.)
2.		Sarasota Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Ivanhoe Company offered to exchange a similar machine, but wanted $13,860 in addition to Buffalos machine. (The exchange has commercial substance for both parties.)

In addition, Buffalo contacted Shamrock Corporation, a dealer in machines. To obtain a new machine, Buffalo must pay $63,000 in addition to trading in its old machine.

		Buffalo		Carla		Sarasota		Ivanhoe		Shamrock
Machine cost		$252,000		$201,600		$166,320		$302,400		$126,000
Accumulated depreciation		94,500		100,800		57,960		176,400		0
Fair value		138,600		94,500		138,600		152,460		201,600

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.	Buffalo Corporation
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Carla Company
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
2.	Buffalo Corporation
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Sarasota Company
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
3.	Buffalo Corporation
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Ivanhoe Company
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
4.	Buffalo Corporation
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Shamrock Company
	enter an account title to record exchange of inventory	enter a debit amount	enter a credit amount
	enter an account title to record exchange of inventory	enter a debit amount	enter a credit amount
	enter an account title to record exchange of inventory	enter a debit amount	enter a credit amount
	(To record exchange of inventory)
	enter an account title to record cost of inventory	enter a debit amount	enter a credit amount
	enter an account title to record cost of inventory	enter a debit amount	enter a credit amount
	(To record cost of inventory)