Question: Attempt History nt Attempt in Progress Your answer is partially correct. lita Corporation operates a retail computer store. To improve delivery services to qustomers, the
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nt Attempt in Progress
Your answer is partially correct.
lita Corporation operates a retail computer store. To improve delivery services to qustomers, the company purchases four new aks on April The terms of acquisition for each truck are described below.
Truck # has a list price of $ and is acquired for a cash payment of $
Truck # has a list price of $ and is acquired for a down payment of $ cash and a zerointerestbearing note with a face amount of $ The note is due April Bonita would normally have to pay interest at a rate of for such a borrowing, and the dealership has a borrowing rate of
Truck # has a list price of $ It is acquired in exchange for a computer system that Bonita carries in inventory. The computer system cost $ and is normally sold by Bonita for $ Bonita uses a perpetual inventory system.
Truck # has a list price of $ It is acquired in exchange for shares of common stock in Bonita Corporation. The stock has a par value per share of $ and a market price of $ per share.
epare the appropriate journal entries for the above transactions for Bonita Corporation. Round present value factors to decimal aces, e and final answers to decimal places, es Credit occount titles are outomatically indented when amount is entered.
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