C erto mh education 00m hrmtpr E connect Ch. 10 Homework Question 4 4. 10.00 points On January 1, 2016. Byner Company purchased a used tractor Byner paid $7,000 down and signeda noninterest-bearing note requring $40,000 to be paid on December 31, 2018. The fair value of the tractow is Tot determinable An mterest rate of 10% property reflects the h me value of money for ths type if loan agreement. The company's fiscal year end is December 31 EV of $1. PV of $1. FVA ot S1. PVA of$1 Required: L Prepare the journal entry to record the acqastion of the tractor (If no entry is required for a transactionlevent, select "No journal entry required in the first account field.) ewjournal entry work sheet Tractor 37,053 ,000 Note payable 30,053 TOSHIBA 2 4 5 tab 5