Flint 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. Flint Corporation gave the machine plus $408 to Buffalo Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines. Machine cost Accumulated depreciation Fair value Flint Corp. (Old Machine) $348 168 102 Buffalo Co. (New Machine) $324 -0- 510 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 for the amounts.) Account Titles and Explanation Flint Corporation Debit Credit For each company prepare the necessary joumalentry to record the exchange (The exdange has commercial substance Credit decounttides are automatically indented when amount is entered. Do not indent manually. I no entry is required, scect No Entry for the account tidles and enter forthcomounts) Debit Credit Account Titles and Explanation Fint Corneration Buffalo Business Machine Comaan