Ivanhoe Corporation wishes to exchange a machine used in its operations. Ivanhoe has received the following offers from other companies in the industry.

1.		Shamrock Company offered to exchange a similar machine plus $25,760. (The exchange has commercial substance for both parties.)
2.		Bridgeport Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Indigo Company offered to exchange a similar machine, but wanted $3,360 in addition to Ivanhoes machine. (The exchange has commercial substance for both parties.)

In addition, Ivanhoe contacted Sweet Corporation, a dealer in machines. To obtain a new machine, Ivanhoe must pay $104,160 in addition to trading in its old machine.

		Ivanhoe		Shamrock		Bridgeport		Indigo		Sweet
Machine cost		$179,200		$134,400		$170,240		$179,200		$145,600
Accumulated depreciation		67,200		50,400		79,520		84,000		0
Fair value		103,040		77,280		103,040		106,400		207,200

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 0 for the amounts.)

1.) Ivanhoe corp DR CR

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Shamrock Corp DR CR

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2.) Ivanhoe Corp DR CR

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Brigeport Corp DR CR

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3.) Ivanhoe Corp DR CR

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Indigo Corp DR CR -

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4.) Ivanhoe Corp DR CR

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Sweet Corp DR CR

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To record exchange of inventory

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To record cost of Inventory