Nash Corporation wishes to exchange a machine used in its operations. Nash has received the following offers from other companies in the industry. 1. Crane Company offered to exchange a similar machine plus $24,840. (The exchange has commercial substance for both parties.) 2. Cheyenne Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) 3. Ayayai Company offered to exchange a similar machine, but wanted $3,240 in addition to Nashs machine. (The exchange has commercial substance for both parties.) In addition, Nash contacted Pina Corporation, a dealer in machines. To obtain a new machine, Nash must pay $100,440 in addition to trading in its old machine. Nash Crane Cheyenne Ayayai Pina Machine cost $172,800 $129,600 $164,160 $172,800 $140,400 Accumulated depreciation 64,800 48,600 76,680 81,000 0 Fair value 99,360 74,520 99,360 102,600 199,800

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.)