Exercise $10-19($Algo$)$ Acquisition cost; multiple methods $[$LO$10-1,10-3,10-4,10-6]$

Connors Corporation acquired manufacturing equipment for use in its assembly line. Below are four independent situations relating to the acquisition of the equipment.

The equipment was purchased on account for $$39,000.$ Credit terms were $310/,$n$30/.$

Payment was made within the discount period and the company records the purchases of equipment net of discounts.

Connors gave the seller a noninterest$-$bearing note. The note required payment of $$41,000$ 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.

Connors traded in old equipment that had a book value of $$13,000($original cost of $$28,000$ and accumulated depreciation of $$15,000)$ and paid cash of $$36,000.$ The old equipment had a fair value of $$8,100$ on the date of the exchange. The exchange has commercial substance.

Connors issued $1,500$ shares of its no$-$par common stock in exchange for the equipment. 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 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. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$