Question 9 of 10 > 6.35 / 15 View Policies Show Attempt History Current Attempt in Progress Bonita Corporation wishes to exchange a machine used in its operations. Bonita has received the following offers from other companies in the industry 1. 2. 3. Windsor Company offered to exchange a similar machine plus $25,300. (The exchange has commercial substance for both parties Sheridan Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) Skysong Company offered to exchange a similar machine, but wanted $3,300 in addition to Bonita's machine. (The exchange has commercial substance for both parties.) In addition, Bonita contacted Concord Corporation, a dealer in machines. To obtain a new machine, Bonita must pay $102,300 in addition to trading in its old machine. Machine cost Accumulated depreciation Fair value Bonita $176,000 6,000 101 200 Windsor $132.000 49.500 75.900 Sheridan $167,200 78.100 101.200 Skysong $176,000 82.500 104,500 Concord $143.000 -O 203,500 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 for the amounts) Debit Credit No. Account Titles and Explanation 1 1. Bonita Corporation Windsor Company 2. Bonita Corporation Sheridan Company 3. Bonita Corporation