Monty 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.

Prepare the appropriate journal entries for the below transactions for Monty 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.)

PLEASE PROVIDE THE CALCULATIONS FOR ALL ENTRIES.

Truck #2 has a list price of $31,520and is acquired for a down payment of $3,940cash and a zero-interest-bearing note with a face amount of $27,580. The note is due April 1, 2018. Monty would normally have to pay interest at a rate of9% for such a borrowing, and the dealership has an incremental borrowing rate of8%.