Kingbird Engineering Corporation purchased conveyor equipment with a list price of $9,000. Presented below are three independent cases related to the equipment. a. b. C. Kingbird paid cash for the equipment 8 days after the purchase. The v Kingbird traded in equipment with a book value of $1,800 (initial cost Kingbird gave the vendor a $10,600 zero-interest-bearing note for the Prepare the general journal entries required to record the acquisition and payment in each of the independent cases above. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to O decimal 5 275 dit count titles are automatically indented when ama

Kingbird Engineering Corporation purchased conveyor equipment with a list price of $9,000. Presented below are three independent cases related to the equipment. a. Kingbird paid cash for the equipment 8 days after the purchase. The v b. Kingbird traded in equipment with a book value of $1,800 (initial cost c. Kingbird gave the vendor a $10,600 zero-interest-bearing note for th , Prepare the general journal entries required to record the acquisition and payment in each of the independent cases above. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal Kingbird Engineering Corporation purchased conveyor equipment with a Presented below are three independent cases related to the equipment. a. Kingbird paid cash for the equipment 8 days after the purchase. The vendor's credit terms are 2/10,n/30. Assume that equipment purchases are initially recorded gross. b. Kingbird traded in equipment with a book value of $1,800 (initial cost $7,600 ), and paid $8,600 in cash one month after the purchase. The old equipment could have been sold for $500 at the date of trade. (The exchange has commercial substance.) c. Kingbird gave the vendor a $10,60 zero-interest-bearing note for the equipment on the date of purchase. The note was due in one year and was paid on time. Assume that the effective-interest rate in the market was 8%. Prepare the general journal entries required to record the acquisition and payment in each of the independen above. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answers to 0 decimal placi 5,275 . Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) b. Equipment 9000 Loss on Disposal of Equipment Accounts Payable Equipment (To record the purchase of equipment on account.) Accounts Payable Cash (To record the payment on account.) c. (To record the purchase of equipment with a note.) (To record the payment of the note.)