2. Sweet Enterprises purchased store equipment by making a $2,160 cash down payment and signing a 1-year, $24.840, 10% note payable. The purchase was recorded as follows. Equipment 29,484 Cash 2,160 Notes Payable 24,840 Interest Payable 2,484 3. Pharoah Company purchased office equipment for $19,700, terms 2/10, n/30. Because the company intended to take the discount, it made no entry until it paid for the acquisition. The entry was: Equipment 19,700 Cash 19,306 Purchase Discounts 394 4. Novak Inc. recently received at zero cost land from the Village of Cardassia as an inducement to locate its business in the Village. The appraised value of the land is $29,160. The company made no entry to record the land because it had no cost basis. 5. Splish Company built a warehouse for $648,000. It could have purchased the building for $799,200. The controller made the following entry. 5. Splish Company built a warehouse for $648,000. It could have purchased the building for $799,200. The controller made the following entry. Buildings 799,200 Cash 648,000 Profit on Construction 151,200 Prepare the entry that should have been made at the date of each acquisition. (Round intermediate calculations to 5 decimal palces, e.g. 0.56487 and final answers to 0 decimal places, e.g. 5,275. 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 Debit Credit 1. Land 162000 Buildings 483000 Equipment Cash 2. Equipment Cash Question 10 of 13 - / 1 III Equipment Cash 2. Equipment Cash Notes Payable 3. Equipment Cash 4. No Entry No Entry 5. Buildings Cash