Could you explain how you got the answer as well? Thank you?

Bridgeport Corporation wishes to exchange a machine used in its operations. Bridgeport has received the tollowing otters trom other companies in the industry. 1. Indigo Company offered to exchange a similar machine plus $24,840. (The exchange has commercial substance for both parties.) 2. Sweet Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) 3. Pharoah Company offered to exchange a similar machine, but wanted $3,240 in addition to Bridgeport's machine. ?The exchange has commercial substance for both parties.) In addition, Bridgeport contacted Novak Corporation, a dealer in machines.To obtain a new machine, Bridgeport must pay $100,440 in addition to trading in its old machine. Bridgeport Indigo Sweet Pharoah Novak Machine cost $172,800 $129,600 $164,160 $172,800 $140,400 Accumulated depreciation 64,800 48,600 76,680 81,000 -0 Fair value 99,360 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. 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 Bridgeport Corporation ?ndigo Company 2. Bridgeport Corporation