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

1.		Sarasota Company offered to exchange a similar machine plus $32,200. (The exchange has commercial substance for both parties.)
2.		Ivanhoe Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Shamrock Company offered to exchange a similar machine, but wanted $4,200 in addition to Carlas machine. (The exchange has commercial substance for both parties.)

In addition, Carla contacted Bridgeport Corporation, a dealer in machines. To obtain a new machine, Carla must pay $130,200 in addition to trading in its old machine.

		Carla		Sarasota		Ivanhoe		Shamrock		Bridgeport
Machine cost		$224,000		$168,000		$212,800		$224,000		$182,000
Accumulated depreciation		84,000		63,000		99,400		105,000		0
Fair value		128,800		96,600		128,800		133,000		259,000

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.	Carla Corporation
	Sarasota Company
2.	Carla Corporation
	Ivanhoe Company
3.	Carla Corporation
	Shamrock Company
4.	Carla Corporation
	Bridgeport Company
	(To record exchange of inventory)
	(To record cost of inventory)