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Marigold Corporation wishes to exchange a machine used in its operations. Marigold has received the following offers from other companies in the industry, 1. 2. Swifty Company offered to exchange a similar machine plus $24.840. (The exchange has commercial substance for both parties.) Nash Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties) Crane Company offered to exchange a similar machine, but wanted $3,240 in addition to Marigold's machine. (The exchange has commercial substance for both parties.) 3. In addition, Marigold contacted Cheyenne Corporation, a dealer in machines. To obtain a new machine, Marigold must pay $100,440 in addition to trading in its old machine. Marigold Swifty Nash Crane Cheyenne Machine cost $172,800 $129.600 $164,160 $172,800 $140.400 Accumulated depreciation 64,800 48,600 76,680 81,000 -0- 99,360 Fair value 74,520 99,360 102,600 199,800 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. / no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit No. Account Titles and Explanation Marigold Corporation 1. 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 for the amounts.) No. Account Titles and Explanation 1. Marigold Corporation Debit Credit Swifty Company -12 E Swifty Company 2. Marigold Corporation Nash Company 12 Nash Company 3. Marigold Corporation Crane Company Opler 10 Homework Question of Gm 0 Cheyenne Company (To record exchange of inventory) Crane Company 4. Marigold Corporation Cheyenne Company

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