Mirobel Trucking bought three used trucks for $60,000. An independent appraisal of the trucks produced the following figures:
Truck No. _________________________ Appraised Value
1 .................................................. $24,000
2 .................................................. 22,000
3 .................................................. 20,000
Mirobel Trucking paid 25 percent in cash and signed a note for the remainder. Record the purchase in the general journal, identifying each truck's individual cost in a separate Truck account.