Martinez Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2017. The terms of acquisition for each truck are described below.

1. Truck #1 has a list price of $47,550 and is acquired for a cash payment of $44,063.

2. Truck #2 has a list price of $50,720 and is acquired for a down payment of $6,340 cash and a zero-interest-bearing note with a face amount of $44,380. The note is due April 1, 2018. Martinez would normally have to pay interest at a rate of 9% for such a borrowing, and the dealership has an incremental borrowing rate of 8%.

3. Truck #3 has a list price of $50,720. It is acquired in exchange for a computer system that Martinez carries in inventory. The computer system cost $38,040 and is normally sold by Martinez for $48,184. Martinez uses a perpetual inventory system.

4. Truck #4 has a list price of $44,380. It is acquired in exchange for 1,080 shares of common stock in Martinez Corporation. The stock has a par value per share of $10 and a market price of $13 per share.

Prepare the appropriate journal entries for the above transactions for Martinez Corporation. (Round present value factors to 5 decimal places, e.g. 0.52587 and final answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when 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.)

No. Account Titles and Explanation Debit Credit