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Connors Corporation acquired manulacturing equpment for use in its assembly line. Below are four independent situations relating to the acquisition of the equipment 1. The equipment was purchased on account for $29,000. Credit terms were 2/10,n/30. Payment was made within the discount period and the company records the purchases of equipment net of discounts. 2. Connors gave the seller a noninterest-beating note. The note required payment of $31,000 one year from date of purchase. The fair value of the equipment is not determinable. An interest rate of 11% properly reflects the time value of money in this situation. 3. Connors taded in old equipment that had a book value of $8,000 (original cost of $18,000 and accumulated depreciation of $10,000 ) and paid cash of $26,000. The old equipment had a fair value of $4,100 on the date of the exchange. The exchange 4. Connors issued 2.000 shares of its no par common stock in exchange for the equipment. The market value of the common stock has commercial substance. was not determinable. The equipment could have been purchased for $28,000 in cash. Required: For each of the above situations, prepare the journal entry required to record the acquisition of the equipment. Note: Use tables, Excel, or a financial calculator. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar. (EV of S1. EV of S1. EVA oIS1, PVA of S1, EVAD of S1 and PVAD of S1)