Carla Corporation wishes to exchange a machine used in its operations. Carla has received the following offers from other companies in the industry. 1. 2. 3. Sarasota Company offered to exchange a similar machine plus $30,820. (The exchange has commercial substance for both parties.) Ivanhoe Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) Shamrock Company offered to exchange a similar machine, but wanted $4,020 in addition to Carla's 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 $124,620 in addition to trading in its old machine. Carla Sarasota Ivanhoe Shamrock Bridgeport Machine cost $214,400 $160,800 $203,680 $214,400 $174,200 Accumulated depreciation 80,400 60,300 95,140 100,500 -0- Fair value 123,280 92,460 123,280 127,300 247,900 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 O for the amounts.) No. Account Titles and Explanation Debit Credit 1. Carla Corporation