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

1.		Sheridan Company offered to exchange a similar machine plus $29,440. (The exchange has commercial substance for both parties.)
2.		Skysong Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.)
3.		Concord Company offered to exchange a similar machine, but wanted $3,840 in addition to Windsors machine. (The exchange has commercial substance for both parties.)

In addition, Windsor contacted Marigold Corporation, a dealer in machines. To obtain a new machine, Windsor must pay $119,040 in addition to trading in its old machine.

		Windsor		Sheridan		Skysong		Concord		Marigold
Machine cost		$204,800		$153,600		$194,560		$204,800		$166,400
Accumulated depreciation		76,800		57,600		90,880		96,000		0
Fair value		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 titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	Windsor Corporation
	Sheridan Company
2.	Windsor Corporation
	Skysong Company
3.	Windsor Corporation
	Concord Company
4.	Windsor Corporation
	Marigold Company
	(To record exchange of inventory)
	(To record cost of inventory)