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5 50 points possible; Perform all tasks as required below, l.e.cell referencing to original data, use of Excel Present Value formula for truck #2, proper account names, etc. 8 7 EBA1 - Acquisition Costs of Trucks Nerds "R" Us Corporation operates a retail computer store. To improve delivery services to customers the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are 1 described below 2 3 1. Truck 1 List price $ 15,000 5 Cash acquisition cost 13,900 3 2 Truck #2 Ust price $ 16,000 Acquisition cost Cash down payment 2,000 Face amount of zero-interest bearing note assumed 14,000 Note due date April 1, 2021 Normal interest rate for this borrowing 1076 Incremental borrowing rate 8% 3. Truck 3 List price $ 16.000 Acquired in exchange for a computer system that Nords"R"Us carries in inventory Cost of computer system in inventory 12,000 Normal selling price of computer system by Nords "R"US 15,200 Inventory system used by Nerds 'R' Us Perpetual 4 Truck 14 List price $ 14,000 Acquired in exchange for common stock in Nerds 'R' Us Corporation 1,000 shares Par value of common stock per share $ 10.00 Market value of common stock per share $ 13.00 41 38 Prepare the appropriate journal entries for the above transactions for Nerds "R" Us Corporation B9 40 Debit Credit 1 2 13 14 15 2 Use the Excel Present Value formula. + 6 17 8 9 $0 $1 52 53 3 54 35 56 7 58 9 4 0 11 2 3