Larkspur Corporation wishes to exchange a machine used in its operations. Larkspur has received the following offers from other companies in the industry. 1. Cullumber Company offered to exchange a similar machine plus $31,740. (The exchange has commercial substance for both parties.) 2. Riverbed Company offered to exchange a similar machine, (The exchange lacks commercial substance for both parties.) 3. Marin Company offered to exchange a similar machine, but wanted $4,140 in addition to Larkspur's machine. (The exchange has commercial substance for both parties.) In addition, Larkspur contacted Headland Corporation, a dealer in machines. To obtain a new machine, Larkspur must pay $128,340 in addition to trading in its old machine. For each of the four independent situations, prepare the journal entries to record the exchange on the books of each company. (Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. Larkspur Corporation Cullumber Company. 2. Larkspur Corporation Riverbed Company. 3. Larkspur Corporation Marin Company. 4. Larkspur Corporation 4. Larkspur Corporation Headland Company, (To record exchange of inventory) (To record cost of inventory)