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 flve acres of land with a bulding 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 reasonabie interest fate. 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 poid. 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. Journal entry worksheet 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. Journal entry worksheet 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. Journal entry worksheet 1 7 On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,600. Note: Enter debits before credits. Journal entry worksheet On September 18 , the company paid its lawyer $3,000 for organizing the corporation. Note: Enter debits betore credits. Journal entry worksheet 1 2 3 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. Journal entry worksheet 1 2 3 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. Journal entry worksheet 1 2 3 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