Tower Garden Center has purchased two pre-owned trucks for delivery of plants and flowers to its customers. The trucks were purchased at a cash-only auction for 15 percent below current market value. The owners have asked you to record these purchases in the financial records at current market value. You don’t think that is correct. In response to the owners, write a brief business memorandum in good form. Explain how the purchase of the pre-owned trucks will affect the balance sheet, include the entry to record the transaction, and explain why the amount must be at the price paid for the trucks.