Current Attempt in Progress Concord Engineering Corporation purchased conveyor equipment with a list price of $10,700. Presented below are three independent cases related to the equipment. a. Concord paid cash for the equipment 8 days after the purchase. The vendor's credit terms are 2/10,n/30, Assume that equipment purchases are initially recorded gross. b. Concord traded in equipment with a book value of $1,800 (initial cost $7,500 ), and paid $9,000 in cashone month after the purchase. The old equipment could have been sold for $400 at the date of trade. (The exchange has commercial substance) c. Concord gave the vendor a $11,100 zero-interest-bearing note for the equipment on the date of purchase The note was due in one year and was paid on time. Assume that the effective-interest rate in the market was 98. Prepare the general journal entries required to record the acquisition and payment in each of the independent cases above. (Round present value foctor calculations to 5 decimal places, es. 1.25124 and final answers to 0 decimal places, es, 5,275, Credit occount titles are outomatically indented when amount is entered, Do rot indent manuatty. tf no entry ls requitred, sefect "No Entry" for the occount tites and enter 0 for the amounts. List all debit entries before credit entries)