Sandhill Corporation, which manufactures shoes, hired a recent college graduate to work in its accounting department. On the first day of work, the accountant was assigned to total a batch of invoices with the use of an adding machine. Before long, the accountant, who had never before seen such a machine, managed to break the machine. Sandhill Corporation gave the machine plus $367 to Teal Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines.

Sandhill Corporation, which manufactures shoes, hired a recent colege graduate to work in its accounting department. On the first day of work, the accountant was assigned to total batch of invoices with the use of an adding machine. Before long, the accountant, who had never ne, managed to b he machine. Sandhil Corporation ve the e pl us $367 to Teal Busi ness Machine Company (deale n exchange tor machine. Assume the owing informatio he machines dhill $313 $29 Accumulated preciation 92 459 For each company, prepare the necessary journal entry to record the exchange. The exchange has commercial substance. (credit account titles are autonatlcally Indented when amountis entered. Do not indent manually. If no entry Is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation