Sheffield 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. Sheffield Corporation gave the machine plus $381 to Tamarisk Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines. Sheffield Corp. (Old Machine) Tamarisk Co. (New Machine) $325 $302 Machine cost Accumulated depreciation Fair value 157 -0- 95 476 For each company, prepare the necessary journal entry to record the exchange. (The exchange has commercial substance.) (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 o for the amounts.) Account Titles and Explanation Debit Credit Sheffield Corporation manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Sheffield Corporation Tamarisk Business Machine Company