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

1.		Teal Company offered to exchange a similar machine plus $24,380. (The exchange has commercial substance for both parties.)
2.		Flint Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Buffalo Company offered to exchange a similar machine, but wanted $3,180 in addition to Sandhills machine. (The exchange has commercial substance for both parties.)

In addition, Sandhill contacted Carla Corporation, a dealer in machines. To obtain a new machine, Sandhill must pay $98,580 in addition to trading in its old machine.

		Sandhill		Teal		Flint		Buffalo		Carla
Machine cost		$169,600		$127,200		$161,120		$169,600		$137,800
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
1.	Sandhill Corporation
	Teal Company
2.	Sandhill Corporation
	Flint Company
3.	Sandhill Corporation
	Buffalo Company
4.	Sandhill Corporation
	Carla Company
	(To record exchange of inventory)
	(To record cost of inventory)