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Tristar Production Company began operations on September 1, 2021. Listed below are a number of transactions that occurred during its first four months of operations.

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Tristar Production Company began operations on September 1, 2021. Listed below are a number of transactions that occurred during its first four months of operations. (FV of $1. PV of $1., FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1] (Use appropriate factor(s) from the tables provided.) 1. On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $120,000 in cash for the property. According to appraisals, the land had a fair value of $85,400 and the building had a fair value of $54,600. 2. On September 1. Tristar signed a $42,000 noninterest-bearing note to purchase equipment. The $42,000 payment is due on 3. On September 15, a truck was donated to the corporation. Similar trucks were selling for $2,700. 5. On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $17,000 and $600 in freight charges also were paid 6. On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $5,700 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 $22,000. It paid $3,000 down and signed a 11% note with both principal and interest due in one year. Eleven percent is an appropriate rate of interest for this note. Required: Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollars.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 ----- thereen and with a huildinn that Journal entry worksheet On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $120,000 in cash for the property. According to appraisals, the land had a fair value of $85,400 and the building had a fair value of $54,600. Note: Enter debits before credits. Datos General Journal Dobit Credit September 01 Record entry Clear entry View general Journal View transaction list Journal entry worksheet On September 15, a truck was donated to the corporation. Similar trucks were selling for $2,700. Note: Enter debits before credits. Datos General Journal Dobit Credit September 15 Record entry Clear entry View general Journal Journal entry worksheet 2. On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $17,000 and $600 in freight charges also were paid. Note: Enter debits before credits General Journal Debit . Credit Dates October 10 Record entry Clear entry View general Journal Journal entry worksheet 1. 2 3 4 5 5 7 On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $5,700 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 Note: Enter deblts before credits. General Journal Debit Credit Dates December 02 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 On December 10, the company acquired a tract of land at a cost of $22,000. It paid $3,000 down and signed a 11% note with both principal and interest due in one year. Eleven percent is an appropriate rate of interest for this note. Note: Enter debits before credits. General Journal Debit Credit Dates December 10 Record entry Clear entry View general Journal

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