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 $34,500. (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 $4,500 in addition to Ivanhoe's 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 $139,500 in addition to trading in its old machine. Machine cost Accumulated depreciation Fair value Ivanhoe $240,000 90,000 138,000 Shamrock Bridgeport Indigo Sweet $180,000 $228,000 $240,000 $195,000 67,500 106,500 112,500 103,500 138,000 142,500 277,500 -O- 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 Credit No. Account Titles and Explanation 1. Ivanhoe Corporation Shamrock Company 2. Ivanhoe Corporation Bridgeport Company 3. Ivanhoe Corporation Indigo Company