Exercise 10-17 Concord Corporation, which manufactures shoes, hired a recent college graduate to work in its accounting department. On the first day of work, the accountant was assigned to total a batch of invoices with the use of an adding machine. Before long, the accountant, who had never before seen such a machine, managed to break the machine. Concord Corporation gave the machine plus $490 to Marigold Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines. Concord Corp. (Old Machine) Marigold Co. (New Machine) Machine cost $418 $389 Accumulated depreciation 202 -0- 122 Fair value 612 For each company, prepare the necessary journal entry to record the exchange. (The exchange has commercial substance.) (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.) Accoant Titles and Explanation Debit Credit Concord Corporation Marigold Business Machine Company Qpen Show Work Click if you would like to Show Work for this question: SHOW LIST OF ACCOUNTS