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 $33,580. (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 $4,380 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 $135,780 in addition to trading in its old machine.

		Sandhill		Teal		Flint		Buffalo		Carla
Machine cost		$233,600		$175,200		$221,920		$233,600		$189,800
Accumulated depreciation		87,600		65,700		103,660		109,500		0
Fair value		134,320		100,740		134,320		138,700		270,100

For each of the four independent situations, prepare the journal entries to record the exchange on the books of each company.