Blossom Engineering 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 ANURDINARY 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 account eitles are automatically indented When the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts. List all debit entries before credit entries, Round factor volues to 5 decimal ploces, es. 1.25124 and final answers to 0 decimal places, es. 5.275. Click here to view Table A 4 - PRESENT VALUE OF ANORDINARY 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, tinancial calculator, or Excel. (Credit account tities ore outomatically indented When the amount is entered, Do not indent manualik if no entry is required, select "No Entry" for the account tities and enter O for the amounts Ust all debit entries befare credit entries. Round factor yalues to 5 deelmol ploces, es. 1.25124 and final cnswers to 0 decimol ploces, eg. 5,275. (Payment on account) 3. (Purchase of equipment for cash and a note payable) First Payment on the Note (To record instalment payment on note.) Secend Payment on the Note (To record instalment payment on note.)