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

1.		Sheffield Company offered to exchange a similar machine plus $25,300. (The exchange has commercial substance for both parties.)
2.		Tamarisk Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Vaughn Company offered to exchange a similar machine, but wanted $3,300 in addition to Wildhorses machine. (The exchange has commercial substance for both parties.)

In addition, Wildhorse contacted Bramble Corporation, a dealer in machines. To obtain a new machine, Wildhorse must pay $102,300 in addition to trading in its old machine.

		Wildhorse		Sheffield		Tamarisk		Vaughn		Bramble
Machine cost		$176,000		$132,000		$167,200		$176,000		$143,000
Accumulated depreciation		66,000		49,500		78,100		82,500		0
Fair value		101,200		75,900		101,200		104,500		203,500

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.	Wildhorse Corporation
	Sheffield Company
2.	Wildhorse Corporation
	Tamarisk Company
3.	Wildhorse Corporation
	Vaughn Company
4.	Wildhorse Corporation
	Bramble Company
	(To record exchange of inventory)
	(To record cost of inventory)