Tristar Production Company began operations on September $1,2024.$ Listed below are a number of transactions that $0$ its first four months of operations.

$0\mathrm{.}83$

points

$0224$:$12$

On September $1,$ the company acquired five acres of land with a building that will be used as a warehouse. Tristar in cash for the property. According to appraisals, the land had a fair value of $$204,600$ and the building had a fair $$105,400.$

On September $1,$ Tristar signed a $$59,000$ noninterest$-$bearing note to purchase equipment. The $$59,000$ paymer September $1,2025.$ Assume that $8\%$ is a reasonable interest rate.

On September $15,$ a truck was donated to the corporation. Similar trucks were selling for $$4,400.$

On September $18,$ the company paid its lawyer $$7,000$ for organizing the corporation.

On October $10,$ Tristar purchased equipment for cash. The purchase price was $$34,000$ and $$1,450$ in freight chars paid.

On December $2.$ Tristar acquired equipment. The company was short of cash and could not pay the $$7,400$ norma The supplier agreed to accept $200$ shares of the company's no$-$par common stock in exchange for the equipment. of the stock is not readily determinable.

On December $10,$ the company acquired a tract of land at a cost of $$39,000.$ It paid $$7,000$ down and signed a $10\%$ 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 tables, Excel, or a financial calculator. If no entry is required for a transaction$/$event$,$ select $"$No journal entr the first account field. Round your answers to the nearest whole dollar. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD PVAD of $$1)$

Answer is complete but not entirely correct.

$\backslash$table$[[$No$,$Date,Gon,,Dobit,Credit$],[1,$September $01,$Land,$0,147,200,],[,$Building,$0,82,800ox,],[,$Cash,$0,,230,000ox$