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

1.		Novak Company offered to exchange a similar machine plus 18,860. (The exchange has commercial substance for both parties.)
2.		Splish Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Blossom Company offered to exchange a similar machine, but wanted 2,460 in addition to Pharoahs machine. (The exchange has commercial substance for both parties.)
4.		In addition, Pharoah contacted Blue Group, a dealer in machines. To obtain a new machine, Pharoah must pay 76,260 in addition to trading in its old machine. (The exchange has commercial substance.)

		Pharoah		Novak		Splish		Blossom		Blue
Machine cost		131,200		98,400		124,640		131,200		106,600
Accumulated depreciation		49,200		36,900		58,220		61,500		0
Fair value		75,440		56,580		75,440		77,900		151,700

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. Include in your journal entry separate account entries for both the new and old machinery. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	Pharoah SA
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Novak Company
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
2.	Pharoah SA
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Splish Company
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
3.	Pharoah SA
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Blossom Company
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
4.	Pharoah SA
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	Blue Company
	enter an account title to record exchange of inventory	enter a debit amount	enter a credit amount
	enter an account title to record exchange of inventory	enter a debit amount	enter a credit amount
	enter an account title to record exchange of inventory	enter a debit amount	enter a credit amount
	(To record exchange of inventory)
	enter an account title to record cost of inventory	enter a debit amount	enter a credit amount
	enter an account title to record cost of inventory	enter a debit amount	enter a credit amount
	(To record cost of inventory)