Waterway Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2017. The terms of acquisition for each truck are described below.

1. Truck #1 has a list price of $15,000 and is acquired for a cash payment of $13,900.

2. Truck #2 has a list price of $20,000 and is acquired for a down payment of $2,000 cash and a zero-interest-bearing note with a face amount of $18,000. The note is due April 1, 2018. Waterway would normally have to pay interest at a rate of 10% for such a borrowing.

3. Truck #3 has a list price of $12,000. It is acquired in exchange for a forklift owned by Waterway. The forklift cost $18,000 and its fair market value and accumulated depreciation on the date of the exchange is $15,000 and $10,500. The exchange lacks commercial substance. You will have to determine the cash exchanged.

4. Truck #4 has a list price of $14,000. It is acquired in exchange for 1,000 shares of common stock in Waterway Corporation. The stock has a par value per share of $10 and a market price of $13 per share.

Required: Prepare the appropriate journal entries for the above transactions for Waterway.