Flounder indentries purchxed the following assets and constructed abuilding as well. All this was done during the current year. Assets 1 and 2 These zstets wire purchased as alamp sam for $193440 eash The following information was zathered Aisetas This machine was acquired ty mawine a 126,000 down paymeet and issuirg a 178.000 , trear, zero-laterest besing note. The note is to be pad eff in at the end of the firat year, lf wat eitimated that the asset could have been purchased outright for $94,640 Aiset 4 : This inachinery was acquired ty trading in uyed machinery (The eachange lacks camercial ubbtance) Facts concersing the trade-in are as follown: Asset 5 Machinerywas acouired by issuing 1.000 shares of $1 par value commonstock. The stock was actively taded and had a market value of $7 per share. Construction of Bailding A building was constructed on iand purchused last year at a cost of $124.800. Construction beganon March 1 and wascomploted on 5 eptember 1 . The pinments to the cnntractor Were as follows To finance construction of the building a $624,000,100 construction loan was taken out on March 1 . The loan was repaid on September 1. The firm had 5416.000 of ather outstanding debt during the year at a borrowing rate of 12%. Record the acquisition of each of these assets. (List all debit entries before credit entries. Round iatermiediate colculotions to 5 decimal places, eg. t.25.24 dend final animer to 0 decimal places es 58,971 . Credit occount tities are dutomatically indented when amount is entered. Do not indent manuelly. If no entry is required. select "No Entry" for the occount titles and enter 0 for the amounts.) Question 2 of 3 Account Titles and Explanation Debit Credit Acquisition of Assets 1 and2 Acaubisition of Asret 3 Accuisition of Asset 4 Question 2 of 3 Acauisition od Asrets (Torecord machinery) (To record and and buikeinne?) oTextbook and Media