During the current year, Riverbed Construction Ltd$.$ traded an old crane that had a book value of $$120,600($original cost $$187,600$ less accumulated depreciation $$67,000)$ for a new crane from Marin Manufacturing Inc. The new crane cost Marin $$221,100$ to manufacture and is classified as inventory. The following information is also available.

Fair value of old crane $109,880$

Fair value of new crane $268,000$

Cash paid $158,120$

Cash received $158,120$

Assuming that this exchange is considered to have commercial substance, prepare the journal entries on the books of $(1)$ Riverbed Construction and $(2)$ Marin Manufacturing.