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Current Attempt in Progress 5 arasota Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on

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Current Attempt in Progress 5 arasota Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1. 2020 . The terms of acquisition for each truck are described below. 1. Truck at has a list price of $49,350 and is acquired for a cash pument of $45,731. 2. Truck $2 has a list price of $52.640 and is acquired for a down parment of $6,580 cash and a zero-interest-bearing note with a face amount of $46, 060 . The note is due April 1,2021. Sarasota would normally have to puy interestot a rate of 9% for such a borrowing, and the dealership has an incremental borrowing rate of 8% 3. Truck 33 has a list price of $52,640. It is acquired in exchange for a computer system that Sarasota carries in inventory. The computer system cost 539,480 and is normally sold by Sarasota for $50,008, Sarasota ves a perpetuat inventery system. 4. Truck 44 tos a list price of $46000. it is acpulred in exchange for 990 shares of common stock in Sarasota Corporation. The stock has a par value per share of $10 and a market price of $13 per share. Prepare the appropriate iournal entries for the above transactions for 5 arasota Corporation. (kound present wilue factors to 5 decimal places, e.s. O. 52587 and final answers to 2 decimal places, e.5. 52.75, Credit occeunt titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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