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Tristar Production Company began operations on September $1,2024.$ Listed below are a number of transactions that occurred during

Its first four months of operations.

On September $1,$ the company acquired five acres of land with a bullding that will be used as a warehouse. Tristar pald $$210,000$

In cash for the property. According to appralsals, the land had a falr value of $$142,600$ and the bullding had a falr value of

$$87,400.$

On September $1,$ Tristar signed a $$51,000$ noninterest$-$bearing note to purchase equipment. The $$51,000$ payment is due on

September $1,2025.$ Assume that $9\%$ is a reasonable interest rate.

On September $15,$ a truck was donated to the corporation. Similar trucks were selling for $$3,600.$

On September $18,$ the company pald its lawyer $$3,000$ for organizing the corporation.

On October $10,$ Tristar purchased equipment for cash. The purchase price was $$26,000$ and $$1,050$ in freight charges also were

pald.

On December $2,$ Tristar acquired equipment. The company was short of cash and could not pay the $$6,600$ normal cash price.

The suppller agreed to accept $200$ shares of the company's no$-$par common stock in exchange for the equipment. The falr value

of the stock is not readily determinable.

On December $10,$ the company acquired a tract of land at a cost of $$31,000.$ It paid $$3,000$ down and signed a $11\%$ note with both

principal and interest due in one year. Eleven percent is an approprlate rate of Interest for this note.

Required:

Prepare journal entrles to record each of the above transactions.

Note: Use tables, Excel, or a financlal calculator. If no entry Is required for a transaction$/$event$,$ select $"$No journal entry required" In

the first account fleld. Round your answers to the nearest whole dollar. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and

PVAD of $$1)$

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