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9:38 @ @ OD 1 52% X CH 10 HW Required 1. TTUCK #11 anist price on 00, Dual Siyun CUTUL a Casir payment ,12 2. Truck #2 has a list price of $41,120 and is acquired for a down payment of $5,140 cash and a zero-interest-bearing note with a face amount of $35,980. The note is due April 1, 2021. Wildhorse would normally have to pay interest at a rate of 9% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. 3. Truck #3 has a list price of $41,120. It is acquired in exchange for a computer system that Wildhorse carries in inventory. The computer system cost $30,840 and is normally sold by Wildhorse for $39.064. Wildhorse uses a perpetual inventory system. 4. Truck #4 has a list price of $35.980. It is acquired in exchange for 910 shares of common stock in Wildhorse 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 Wildhorse Corporation. (Round present value factors to 5 decimal places, eg. 0.52587 and final answers to 2 decimal places, e.g. 52.75. 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 for the amounts.) No. Account Titles and Explanation Debit Credit Trucks 35723 35723 Cash 2. 38149 Trucks 2971 Discount on Notes Payable

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