Waterway Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April $1,2025.$ The terms of acquisition for each truck are described below.

Truck #$1$ has a list price of $$47,550$ and is acquired for a cash payment of $$44,063.$

Truck #$2$ has a list price of $$50,720$ and is acquired for a down payment of $$6,340$ cash and a zero$-$interest$-$bearing note with a face amount of $$44,380.$ The note is due April $1,2026.$ Waterway would normally have to pay interest at a rate of $9\%$ for such a borrowing, and the dealership has a borrowing rate of $8\%.$

Truck #$3$ has a list price of $$50,720.$ It is acquired in exchange for a computer system that Waterway carries in inventory. The computer system cost $$38,040$ and is normally sold by Waterway for $$48,184.$ Waterway uses a perpetual inventory system.

Truck #$4$ has a list price of $$15,080.$ It is acquired in exchange for $1,080$ shares of common stock in Waterway Corporation. The stock has a par value per share of $$10$ and a market price of $$13$ per share.

Prepare the appropriate journal entries for the above transactions for Waterway Corporation. $($Round present value factors to $5$ decimal places, e$.$g$.0\mathrm{.}52587$ and final answers to $2$ decimal places, e$.$g$.52\mathrm{.}75.$ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

No$.$ Account Titles and Explanation

Debit

Credit