Pearl Corporation wishes to exchange a machine used in its operations. Pearl has received the following offers from other companies in the industry. 1. Martinez Company offered to exchange a similar machine plus $28,060. (The exchange has commercial substance for both parties.) 2. Sandhill Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) 3. Teal Company offered to exchange a similar machine, but wanted $3,660 in addition to Pearls machine. (The exchange has commercial substance for both parties.) In addition, Pearl contacted Flint Corporation, a dealer in machines. To obtain a new machine, Pearl must pay $113,460 in addition to trading in its old machine.

	Pearl	Martinez	Sandhill	Teal	Flint
Machine Cost	195,200	146,400	185,440	195,200	158,600
Accumulated Depreciation	73,200	54,900	86,620	91,500	0
Fair Value	112,240	84,180	112,240	115,900	225,700

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.)