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Please prepare Journal Entries for 1-7. i only have one check, please take your time, you guys are life savers!! Tristar Production Company began operavons

Please prepare Journal Entries for 1-7. i only have one check, please take your time, you guys are life savers!!
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Tristar Production Company began operavons on September 1,2024. Listed below are a number of transactions that occurred during its first four months of operations. 1. On September 1, the company acquired five acres of land with a bullding that will be used as a warehouse. Tristar pald $140,000 in cash for the property. According to appraisals, the land had a fair value of $100,000 and the bullding had a fair value of $60,000. 2. On September 1, Tristar signed a $44,000 noninterest-bearing note to purchase equipment The $44,000 payment is due on September 1.2025 . Assume that 8% is a reasonable interest rate. 3. On September 15, a truck was donated to the corporation. Similar trucks were seliting for' $2,900. 4. On September 18 , the company paid its lawyer $5,000 for organizing the corporavon. 5 On October 10, Tristar purchased equipment for cash. The purchase price was $19,000 and $700 in freight charges aiso were pald: 6. On December 2. Tristar acquired equipment. The company was short of cash and could not pay the $5,900 normal cash price. The supplier agreed to accept 200 shares of the company's no-par common stock in exchange for the equipment. The fair value of the stock is not readily determinable. 7. On December 10 , the company acquired a tract of land at a cost of $24,000, it paid $4,000 down and signed a 10% note with both principal and interest due in one year. Ten percent is an appropriate rate of interest for this note. Required: Prepare journal entries to record each of the above transactions. Note: Use tobles, Excel, or o finonclal calculator. If no entry is required for a transaction/event, select "No journal entry required" In the first occount fleld. Round your answers to the nearest whole doller. (EV of S1, PV of S1, PVA of S1. PVA Of $1. EVAD of S1 and PVAD of 51

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