Pina Colada Corporation builds in-home theater systems. Pina Coladas business is growing quickly. Therefore, the CEO, Paul Pina Colada, decides to purchase three new trucks on September 20, 2017. The terms of acquisition for each truck are described below.

1. The first trucks list price is $20,160. Pina Colada exchanges home theater equipment from its inventory for the truck. The home theater equipment cost Molitor $12,480. Pina Colada normally sells the equipment for $18,960. Pina Colada uses a perpetual inventory system.

2. The second truck has a list price of $21,120. Pina Colada makes a down payment of $4,800 cash on this truck and signs a zero-interest-bearing note with a face amount of $16,320. Payment of the note is due September 20, 2018. Pina Colada would normally have to pay interest at a rate of 8% for such a borrowing.

3. The list price of the third truck is $18,432. This truck is acquired in exchange for 1,152 shares of common stock in Pina Colada Corporation. The stock has a par value per share of $11 and a market price of $16 per share.

Prepare the appropriate journal entries for the above transactions for Pina Colada Corporation.