Ivanhoe Engineering Corporation purchased conveyor equipment with a list price of $46,900. Three independent cases that are related to the equipment follow. Assume that the equipment purchases are recorded gross. 1. Ivanhoepaid cash for the equipment 25 days after the purchase, along with 5% GST (recoverable) and provincial sales tax of $3.283, both based on the purchase price. The vendor's credit terms were 2/10,n/30. 2. Ivanhoe traded in equipment with a book value of $2,700 (initial cost $40,300 ) and paid $41,200 in cash one month after the purchase. The old equipment could tave been sold for $4,200 at the date of trade but was accepted for a trade-in allowance of $5,700 on the new equipment. 3. Ivanhoe gave the vendor a $10,200 cash down payment and a 8% note payable with blended principal and interest payments of $18,350 each, due at the end offeach of the next two years. Click here to view Table A. A - PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 Prepare the general journal entries to record the acquisition and the subsequent payment, including any notes payable, in each of the three independent cases above. For item 3, use a table, financial calculator, or Excel. (Credit occount 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 O for the amounts. List all debit entries before credit entries. Round factor values to 5 decimal places, es. 1.25124 and final answers to 0 decimal places, es. 5.275.) Prepare the general journal entries to record the acquisition and the subsequent payment, including any notes payable, in each of the three independent cases above. For item 3, use a table, financial calculator, or Excel. (Credit occount titles are automotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round foctor values to 5 decimal places, eg. 1.25124 and final answers to 0 decimal ploces, eg. 5,275.) 2. (To record exchange of equipment) I (Payment on account) 3. (Purchase of equipment for cash and a note payable) First Payment on the Note (To record instalment payment on note.) Second Payment on the Note (To record instalment payment on note.)