Splish Corporation wishes to exchange a machine used in its operations. Splish has received the following offers from other companies in the industry. 1. 2. Blossom Company offered to exchange a similar machine plus $29,440. (The exchange has commercial substance for both parties.) Blue Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties) Kingbird Company offered to exchange a similar machine, but wanted $3,840 in addition to Splish's machine. (The exchange has commercial substance for both parties.) 3. In addition, Splish contacted Oriole Corporation, a dealer in machines. To obtain a new machine. Splish must pay $119,040 in addition to trading in its old machine. Splish Blossom Blue Oriole Kingbird $204,800 Machine cost $204,800 $153.600 S194,560 $166,400 In addition, Splish contacted Oriole Corporation, a dealer in machines. To obtain a new machine, Splish must pay $119,040 in addition to trading in its old machine. Blossom Blue Oriole Splish $204,800 Kingbird $204,800 $153,600 $194,560 $166,400 Machine cost Accumulated depreciation Fair value 76,800 57,600 90.880 96,000 -0- 117.760 88,320 117.760 121,600 236,800 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 tities and enter for the amounts.) Splish Corporation Blossom Company Blossom Company 2. Splish Corporation 2. Splish Corporation Blue Company 3. Splish Corporation Kingbird Company Kingbird Company 4. Splish Corporation Splish Corporation Oriole Company Oriole Company (To record exchange of inventory) (To record cost of inventory)