Tristar Production Company began operations on September 1, 2024. Listed below are a number of transactions that occurred during its first four months of operations. 1. On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $210,000 in cash for the property. According to appraisals, the land had a fair value of $142,600 and the building had a fair value of $87,400. 2. On September 1, Tristar signed a $51,000 noninterest-bearing note to purchase equipment. The $51,000 payment is due on September 1, 2025. Assume that 9% is a reasonable interest rate. 3. On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,600. 4. On September 18, the company paid its lawyer $3,000 for organizing the corporation. 5. On October 10, Tristar purchased equipment for cash. The purchase price was $26,000 and $1,050 in freight charges also were paid. 6. On December 2, Tristar acquired equipment. The company was short of cash and could not pay the $6,600 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 $31,000. 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. Note: Use tables, Excel, or a financial calculator. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) Journal entry worksheet < 1 2 3 4 5 6 7 On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $210,000 in cash for the property. According to appraisals, the land had a fair value of $142,600 and the building had a fair value of $87,400. Note: Enter debits before credits. Date September 01 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 5 6 7 On September 1, Tristar signed a $51,000 noninterest-bearing note to purchase equipment. The $51,000 payment is due on September 1, 2025. Assume that 9% is a reasonable interest rate. Note: Enter debits before credits. Date September 01 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 m 4 5 6 7 On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,600. Note: Enter debits before credits. Date September 15 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 5 6 7 On September 18, the company paid its lawyer $3,000 for organizing the corporation. Note: Enter debits before credits. Date September 18 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 4 6 7 On October 10, Tristar purchased equipment for cash. The purchase price was $26,000 and $1,050 in freight charges also were paid. Note: Enter debits before credits. Date October 10 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 4 5 6 7 On December 2, Tristar acquired equipment. The company was short of cash and could not pay the $6,600 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. Note: Enter debits before credits. Date December 02 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 9 7 On December 10, the company acquired a tract of land at a cost of $31,000. 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. Date December 10 General Journal Debit Credit Record entry Clear entry View general journal