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Tristar Production Company began operations on September1, 2018. Listed below are a number of transactions that occurred during Its first four months of operations. FV

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Tristar Production Company began operations on September1, 2018. 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 1. On September 1, the company acquired five acres of land with a bulding that will be used as a warehouse. Tristar pald $260,000 In cash for the property. According to appralsals, the land had a falr value of $187600 and the bullding had a falr value of $92.400. 2 On September 1, Tristar slgned a $56,000 noninterest-bearing note to purchase equipment The $56,000 payment Is due on September 1, 2019. Assume that 8% is a reasonable interest rate. 3. On September 15, a truck was donated to the corporation. Similar trucks were selling for $4,100. 4. On September 18, the company pald its lawyer $5,500 for organlzing the corporation. 5. On October 10, Tristar purchased malntenance equlpment for cash. The purchase price was $31,000 and $1,300 In frelght charges also were paid. 6. On December 2, Tristar acquired varlous Items of office equipment. The company was short of cash and could not pay the $7100 normal cash price. The supplier agreed to accept 200 shares of the company's nopar common stock In exchange for the equlpment. The falr value of the stock is not readily determinable. 7. On December 10, the company acquired a tract of land at a cost of $36.000. It paid $5,500 down and signed a 10% note with both princlpal and Interest due In one year. Ten percent is an approprlate rate of Interest for this note. 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.)

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