Connors Corporation acquired manufacturing equipment for use in its assembly lee Below are four independent situationsring the acquisition of the equipment EV of $5 PV or EVA of $1 PVA SEVA of Sand AD of Use appropriate factors) from the tables provided) 1. The equipment was purchased on account for $30.000 Crede tems were 31030 Payment was made within the discount period and the company records the purchases of equipment net of discounts 2. Connors gave the setier a noninterest beaning note. The note required payment of $40,000 one year from date of purchase. The fair value of the equipment is not determinable. An enterest rate of property reflects the time value of money in this station 3. Connors traded in old equipment that had a book value of $33.000 jangnal cost of $28,000 and accumulated depreciation of $15,000) and paid cash of $36.000. The old equipment had a fair value of $300 on the date of the e nge. The exchange has commercial substance 4. Connors sued 1500 shares of its no per common stock in exchange for the eqpment. The market value of the common stock was not determinable. The equipment could have been purchased for $30,000 in cash Required For each of the above situations, prepare the journal entry required to recent the action of it for a transaction/event, select "No journal entry required" in the first account feld Round your a dollar amount) equipment of no entry is required the nearest whole Journal entry worksheet cord the purchase of egment on account March General Journal D Cet @ 2 d #3 > > O do 114 BO $ % 4 5 6 W E R T S & 57 > Y U 8 Home 61 3nd D F G H K X C V B N M Alt 0 7 0 Alt