Current Attempt in Progress Your answer is partially correct 1. 2 Sandhill 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, Truck #1 has a list price of $24,150 and is acquired for a cash payment of $22,379. Truck #2 has a list price of $25,760 and is acquired for a down payment of $3.220 cash and a zero-Interest-bearing note with a face amount of $22.540. The note is due April 1, 2021. Sandhill would normally have to pay interest at a rate of 9% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. Truck #3 has a list price of $25.760. It is acquired in exchange for a computer system that Sandhill carries in inventory. The computer system cost $19.320 and is normally sold by Sandhill for $24. 472. Sandhill uses a perpetual inventory system Truck 14 has a list price of $22.540. It is acquired in exchange for 1.090 shares of common stock in Sandhill Corporation. The stock has a par value per share of 510 and a market price of $13 per share. 3. 4. Prepare the appropriate journal entries for the above transactions for Sandhill Corporation. (Round present value factors to 5 decimal places, es 0.52587 and final answers to 2 decimal places. 6.3. 52.75. Credit account 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 for the amounts.) Debit Credit and enter for the amounts.) Debit Credit No. Account Titles and Explanation 22379 1. Trucks 22379 Cash 23899 2. Trucks 1861 Discount on Notes Payable 22540 Notes Payable 2-4472 3. Trucks 19320 Cost of Goods Sold 24472 Inventory 19320 14170 4. 10900 Princess of common stock 3270 Common Stoch