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

1.		Bridgeport Company offered to exchange a similar machine plus $34,040. (The exchange has commercial substance for both parties.)
2.		Indigo Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Sweet Company offered to exchange a similar machine, but wanted $4,440 in addition to Shamrocks machine. (The exchange has commercial substance for both parties.)

In addition, Shamrock contacted Pharoah Corporation, a dealer in machines. To obtain a new machine, Shamrock must pay $137,640 in addition to trading in its old machine.

		Shamrock		Bridgeport		Indigo		Sweet		Pharoah
Machine cost		$236,800		$177,600		$224,960		$236,800		$192,400
Accumulated depreciation		88,800		66,600		105,080		111,000		0
Fair value		136,160		102,120		136,160		140,600		273,800

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.	Shamrock Corporation
	Bridgeport Company
2.	Shamrock Corporation
	Indigo Company
3.	Shamrock Corporation
	Sweet Company
4.	Shamrock Corporation
	Pharoah Company
	(To record exchange of inventory)
	(To record cost of inventory)