Wild Expansion Co. acquired the following assets in exchange for various nonmonetary assets. 2015 Mar. 15 Acquired from another company a large lathe in exchange for three small lathes. The small lathes had a total cost of $28,000 and a remaining book value of S15,000. The new lathe had a market value of $23,000, approximately the same value as the three small lathes. This transaction is deemed NOT to have commercial substance. June 1 Acquired 175 acres of land by issuing 3,200 shares of common stock with par value of $1 and market value of $75. Market andlysis reveals that the market value of the stock was a reasonable value for the land. July 15 Acquired a used piece of heavy, earth-moving equipment, market value, $120,000, by exchanging a used molding maxhine with a market value of $20,000 (book value, $12,000; cost, $50,000) and land with a market value of $135,000 (cost, $110,000). Cash of $35,000 was received by Wild Expansion Co. as part of the transaction. Aug. 15 Acquired a patent, franchise, and copyright for two used milling maxhines. The book value of each milling maxhine was $4,000. and each originally cost $8,500. The market value of each maxhine is $9,000. It is estimated that the patent and franchise have about the same market values, and the market value of the copyright is 50% of the market value of the patent. Nov. 1 Acquired a new packaging maxhine for four old packaging maxhines. The old maxhines had a total cost of $72,000 and a total remaining book value of $20,000. The new packaging maxhine has an indicated market value of $60,000, approximately the same value as the four maxhines. This transaction is deemed to have commercial substance. Instructions: Prepare the journal entries required on Wild Expansion Co.'s books to record the exchanges