Blossom Engincering Corporation purchased conveyor equipment with a list price of $45,000. Three independent cases that are related to the equipment follow. Assume that the equipment purchases are recorded gross. 1. Blossom paid cash for the equipment 25 days after the purchase, along with 5% GST (recoverable) and provincial sales tax of $3,150, both based on the purchase price. The vendor's credit terms were 1/10,n/30. 2. Blossom traded in equipment with a book value of $1,900 (initial cost $39,000 ) and paid $39,500 in cash one month after the purchase. The old equipment could have been sold for $4,000 at the date of trade but was accepted for a trade-in allowance of $5.500 on the new equipment. 3. Blossom gave the vendor a $9,500 cash down payment and a 8% note payable with blended principal and interest payments of $17,750 each, due at the end of each of the next two years. Click here to view Table A 4 - PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 Prepare the general journal entries to record the acquisition and the subsequent payment, including any notes payable, in each of the three independent cases above. For item 3, use a table, financial calculator, or Excel. (Credit occount titles are outomatically indented when the amount is entered. Do not indent manuolly. If no entry is required, select "No Entry" for the account tities and enter Of for the amounts List dll debit entries before credit entries. Pound factor values to 5 decimal ploces, es. 1.25124 and final answers to 0 decimal ploces, eg. (5,275.] 3. Equipment \begin{tabular}{rr|} \hline 45,000 \\ \hline \end{tabular} Accounts Payable \begin{tabular}{|r|} \hline 900 \\ \hline \end{tabular} Cash (Purchase of equipment for cash and a note payable) First Payment on the Note Interest Expense 2738.23 Notes Payable Cash (To record instalment payment on note.) Second Payment on the Note Interest Expense \begin{tabular}{|r|} \hline \\ \hline \end{tabular} Notes Payable \begin{tabular}{rr|} \hline & 6900.22 \\ \hline \end{tabular} (To record instalment payment on note.)