Flounder Corporation purchased a truck by issuing an $81,600, 4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 11%. Prepare the journal entry to record the purchase of this truck. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the 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.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

The following transactions occurred during 2020. Assume that depreciation of 10% per year is charged on all machinery and 5% per year on buildings, on a straight-line basis, with no estimated salvage value. Depreciation is charged for a full year on all fixed assets acquired during the year, and no depreciation is charged on fixed assets disposed of during the year.

Jan. 30		A building that cost $187,440 in 2003 is torn down to make room for a new building. The wrecking contractor was paid $7,242 and was permitted to keep all materials salvaged.
Mar. 10		Machinery that was purchased in 2013 for $22,720 is sold for $4,118 cash, f.o.b. purchasers plant. Freight of $426 is paid on the sale of this machinery.
Mar. 20		A gear breaks on a machine that cost $12,780 in 2012. The gear is replaced at a cost of $2,840. The replacement does not extend the useful life of the machine but does make the machine more efficient.
May 18		A special base installed for a machine in 2014 when the machine was purchased has to be replaced at a cost of $7,810 because of defective workmanship on the original base. The cost of the machinery was $20,164 in 2014. The cost of the base was $4,970, and this amount was charged to the Machinery account in 2014.
June 23		One of the buildings is repainted at a cost of $9,798. It had not been painted since it was constructed in 2016.

Prepare general journal entries for the transactions. (Credit account titles are automatically indented when the 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.)

Date	Account Titles and Explanation	Debit	Credit
1/30
3/10
1/303/103/205/186/23
5/18
1/303/103/205/186/23