During the current year, Marshall Construction trades an old crane that has a book value of $158,670 (original cost $246,820 less accumulated depreciation $88,150) for a new crane from Brigham Manufacturing Co. The new crane cost Brigham $290,895 to manufacture and is classified as inventory. The following information is also available.

		Marshall Const.			Brigham Mfg. Co.
Fair value of old crane		$144,566
Fair value of new crane					$352,600
Cash paid		208,034
Cash received					208,034

1. Assuming that this exchange is considered to have commercial substance, prepare the journal entries on the books of (1) Marshall Construction and (2) Brigham Manufacturing.

2. Assuming that this exchange lacks commercial substance for Marshall, prepare the journal entries on the books of Marshall Construction.

3. Assuming the same facts as those in (a), except that the fair value of the old crane is $172,774 and the cash paid is $179,826, prepare the journal entries on the books of (1) Marshall Construction and (2) Brigham Manufacturing.

4. Assuming the same facts as those in (b), except that the fair value of the old crane is $171,011 and the cash paid $181,589, prepare the journal entries on the books of (1) Marshall Construction and (2) Brigham Manufacturing.