Carla Vista Inc. operates a retail computer store. To improve its delivery services to customers, the company purchased four new trucks on April 1, 2020. The terms of acquisition for each truck were as follows:

1.		Truck #1 had a list price of $24,500 and was acquired for a cash payment of $24,000.
2.		Truck #2 had a list price of $29,800 and was acquired for a down payment of $1,900 cash and a noninterest-bearing note with a face amount of $27,900. The note is due April 1, 2021. Carla Vista would normally have to pay interest at a rate of 11% for such a borrowing, and the dealership has an incremental borrowing rate of 8%.
3.		Truck #3 had a list price of $25,500. It was acquired in exchange for a computer system that Carla Vista carries in inventory. The computer system cost $15,400 and is normally sold by Carla Vista for $21,400. Carla Vista uses a perpetual inventory system.
4.		Truck #4 had a list price of $28,200. It was acquired in exchange for 1,000 common shares of Carla Vista Inc. The common shares trade in an active market valued at $21 per share in the most recent trade.

No. Account Titles and Explanation Debit Credit 1. 24000 Cash 24000 (To record purchase of Truck #1.) 2. Cash 1900 Notes Payable (To record purchase of Truck #2.) 3. II NI NI DOO DO DO DO DONDE Sales Revenue (To record purchase of Truck #3.) Cost of Goods Sold Inventory (To record the cost of sold goods.) 4. (To record purchase of Truck #4.)