Q-7: Zameen Company operates a retail computer store. To improve delivery services to customers, the company purchases four new Delivery Van on April 1, 2019. The terms of acquisition for each Delivery Van are described below. 1. Delivery Van #1 has a list price of $21,000 and is acquired for a down payment of $2,000 cash and a zero-interest-bearing note with a face amount of $18,000. The note is due April 1, 2020. Haddad would normally have to pay interest at a rate of 10% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. 2. Delivery Van #2 has a list price of $16,000. It is acquired in exchange for a computer system that Haddad carries in inventory. The computer system cost $12,000 and is normally sold by Haddad for $15,200. Haddad uses a perpetual inventory system. 3. Delivery Van #3 has a list price of S14,500. It is acquired in exchange for 1,000 ordinary shares in Zameen Company. The shares have a par value per share of $10 and a market price of $13 per share. Instructions: Prepare the appropriate journal entries for the foregoing transactions for Zameen Company, (Round computations to the nearest dollar)