Vims/dropbox/user/folder submit files.d21?db-60214028grpid-08tisprv-08bp-08kou-7653198 Preparing Journal Entries Helpful References from your text: P 10-1 Acquisition costs . LO10-1 through LO10-4 Scenario Tristar Production Company began operations on September 1, 2018. 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 $100,000 in cash for the property. According to appraisals, the land had a fair value of $75,000 and the building had a fair value of $45,000. 2. On September 1, Tristar signed a $40,000 noninterest-bearing note to purchase equipment. The $40,000 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 $2.500 4. page 5640n September 18, the company paid its lawyer $3,000 for organizing the corporation. Submit Cancel Ims/dropbox/user/folder submit files.d21?db- 60214028grpid-08tisprv-0&bp-0ou 7653198 ptemper I, Tristar signea a $40,0 purchase equipment. The $40,000 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 4. page 564On September 18, the company paid its lawyer $3,000 for organizing 5. On October 10, Tristar purchased maintenance equipment for cash. The 6. On December 2, Tristar acquired various items of office equipment. The selling for $2,500. the corporation. purchase price was $15,000 and $500 in freight charges also were paid. company was short of cash and could not pay the $5,500 normal cash price. The supplier agreed to accept 200 shares of the company's nopar 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 $20,000. It paid $2,000 down and signed a 10% note with both principal and interest due in one year. Ten percent is an appropriate rate of interest for this note. Assignment Prepare journal entries to record each of the above transactions. Submit Please put yoor first and last name at the top of the document followed by the date. Save the document with your first initial and last name followed by Db10. (e.g. john Submit