Problem 10-8 Bramble Corporation wishes to exchange a machine used in its operations. Bramble has received the following offers from other companies in the industry. 1. Sunland Company offered to exchange a similar machine plus $24,380. (The exchange has commercial substance for both parties.) 2. Coronado Company offered t exchange similar machine. (The exchange lacks commercial substance for both parties.) 3. Whispering Company offered to exchange a similar machine, but wanted $3,180 in addition to Bramble's machine. (The exchange has commercial substance for both parties.) In addition, Bramble contacted Metlock Corporation, a dealer in machines. To obtain a new machine, Bramble must pay $98,580 addition to trading in its old machine. Bramble Sunland Coronado Whispering Metlock $169,600 $127,200 $161,120 $169,600 $137,800 Machine cost Accumulated depreciation 63,600 47,700 75,260 79,500 0- Fair value 97,520 73,140 97,520 100,700 196,100 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.) No. Account Titles and Explanation Debit Credit Bramble Corporation 1 Sunland Company Bramble Corporation 2. Coronado Company Bramble Corporation 3. Whispering Company Bramble Corporation 4. Metlock Company (To record exchange of inventory) (To record cost of inventory)