1 Current Attempt in Progress Novak Corporation builds in-home theater systerns. Novak's business is growing quickly. Therefore, the CEO, Paul Novak, decides to purchase three new trucks on September 20, 2017. The terms of acquisition for each truck are described below. The first truck's list price is $19,740, Novak exchanges home theater equipment from its inventory for the truck. The home theater equipment cost Molitor $12,220. Novak normally sells the equipment for $18,565. Novak uses a perpetual Inventory system The second truck has a list price of $20,680. Novak makes a down payment of $4,700 cash on this truck and signs a zero- interest-bearing note with a face amount of $15,980. Payment of the note is due September 20, 2018. Novak would normally have to pay interest at a rate of 8% for such a borrowing. The list price of the third truck is $18,048. This truck is acquired in exchange for 1,128 shares of common stock in Novak Corporation. The stock has a par value per share of $10 and a market price of $15 per share 2 2 Prepare the appropriate journal entries for the above transactions for Novak Corporation (Round present value factors to 5 decimal places, 68.0.52587 and final answers to 2 decimal places, eg 5,275.50. Credit account tites are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Credit Debit 1