Current Attempt in Progress

Oriole Inc operates a retail computer store. To improve its delivery services to customers, the company purchased four new trucks on April $1,2023.$ The terms of acquisition for each truck were as follows:

Truck $$1$ had a list price of $$29,100$ and was acquired for a cash payment of $$22,900.$

Truck $$2$ had a list price of $$25,700$ and was acquired for a down payment of $$2,000$ cash and a non$-$interest$-$bearing note with a face amount of $$23,700.$ The note is due April $1,2024.$ Oriole would normally have to pay interest at a rate of $10\%$ for such a borrowing. and the dealership has an incremental borrowing rate of $8\%.$

Truck #$3$ had a list price of $$26,100.$ It was acquired in exchange for a computer system that Oriole carries in inventory. The computer system cost $$15,400$ and is normally sold by Oriole for $$22,400.$ Oriole uses a perpetual inventory system.

Truck #$4$ had a list price of $$27,100.$ It was acquired in exchange for $1,000$ common shares of Oriole. The common shares trade in an active market valued at $$23$ per share in the most recent trade.

Click here to view Table A$\mathrm{.}4-$ PRESENT VALUE OF AN ORDINARY ANNUITY OF $1$

$($a$)$ Prepare the appropriate journal entries ior Oriole Inc for the above transactions, assuming that Oriole prepares financial statements in accordance with IFRS. For Truck $-=2,$ calculate the purchase price using any of the three methods $($tables$,$ financial calculator, or Excel$).($Credit account bltes are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the dccount tidles and enter $0$ for the amounts. List oll debit entries before credit entries. fround foctor values to $5$ decimal ploces, eg $1\mathrm{.}25124$ and find answers to $0$ decimal places, eg$.5\mathrm{.}275.)$

No$.$ Account Titles and Explanation

Debit

Credit

$1.$

$2.$

$3.$

$4.$