Presented below is information related to Novak Company. 1. On July 6, Novak Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Novak Company gave 12,500 shares of its $100 par value common stock in exchange. The stock had a market price of $168 per share on the date of the purchase of the property. 2. Novak Company expended the following amounts in cash between July 6 and December 15 , the date when it first occupied the building. 3. On December 20, the company paid cash for equipment, $780,000, subject to a 2% cash discount, and freight on equipment of 531,500 Prepare entries on the books of Novak Company for these transactions. (Do not round intermedlate colculations and fnal answers to 0 decimal places eg. 58,971. Credit account titles are autamatically indented when amount is entered. Do not indent manually if no entry is required, select "No Entry' for the occount titles and enter O for the amounts. List all debit entrles before credit entries) Prepare evtries en the books of Novak Compavy for these tracsaction. De not round intermediate calailotions and fingl anowers to 0 dedinal pisest ez. 58,971 . Credt aceount tities ane outomoticoly indeded when amount is entered Do not indent manual y if ne entry hy mequhed, select "No Enty" for the acesunt fites and enter ofor the amounts. (Hit all debit entries befone otedit entries)