Cheyenne Corporation wishes to exchange a machine used in its operations. Cheyenne has recelved the following offers from other companies in the industry. 1. Ayayai Company offered to exchange a similar machine plus $30,820. (The exchange has commercial substance for both parties.) 2. Pina Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) 3. Grouper Company offered to exchange a similar machine, but wanted $4,020 in addition to Cheyenne's machine. (The exchange has commercial substance for both parties.) In addition, Cheyenne contacted Monty Corporation, a dealer in machines. To obtain a new machine, Cheyenne must pay $124,620 in addition to trading in its old machine. Cheyenne Ayayai Pina Grouper Monty Machine cost Accumulated depreciation Fair value $214,400 $160,800 $203,680 $214,400 $174,200 80,400 60,300 95,140 100,500 123,280 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) Debit No. Account Titles and Explanation 1. Cheyenne Corporation Credit No. Account Titles and Explanation 1. Cheyenne Corporation Debit Credit Ayayai Company 2. Cheyenne Corporation Pina Company 3. Cheyenne Corporation Grouper Company Grouper Company 4. Cheyenne Corporation Monty_Company. Monty_Company To record exchange of inventory) To record cost of inventory)