Concord tndustries purchased the following assets and constructed a bullding as well. All this was done during the current year. Assets 1 and 2 These aksets were purchaud as a lump sum for 5234,360 cash. The following information was gathered: Asset 3 This machine was acquired by moking a $31.500 down payment and issuing a 594.500,1-year, zero-interest-bearing note. The note is to be paid oft in at the end of the first year. It was etimated that the asset could have been purchased outright for $114,660. Asset 4 This machinery was acquired by trading in used machinery, (The echange lacks commerdia substance) Facts concerning the trade-in areas follows: Assot 5 Machinery was acquired by issuing 1.000 shures of $1 par valve common stock. The stock was actively traded and had a market value of 59 per share. Construction of Building A buliding was constructed on land purchased iast year at a cost of 5151.200 . Contruction began on March 1 and was completed on September 1 The payments to the contractor were as follows: To finance construction of the bulliding. a 5756,000 . 10 s construction loan was taken out on March 1 The loan was repaid on September 1 The firm had $504,000 of other outstand ne debt during the vear at a borrowing rate of 12% Record the acquisition of each of theie assets, (Ubt al debit entrio bedore ondir muria found intermedlate cubalotions to 5 decimal Account Titles and Explanation Debit Credit Acquisition of Assets 1 and 2 Machinery Equigenent Acquisition of Asset 3 Machinory Dicount on Notes Parable: Cash Notes Pyyable Acmulsition of Asset 4 Mactiverr Acrumblated Dereretatitn Machinery Carh Machinery Gin an Diposal of Machinery Asouisitinnof Astet 5 Equwnent Cammentintack (To record machnery) Lat Butitine Cman hinghi Eapent [Forneokd land aist buibialing