Exercise 10-11 Your answer is partly correct. Try again Metlock Engineering Corporation purchased cover ment with a list orice of $9.000. Presented below are three independentes related to the woment (a) Melek pold cash for the equipment days when the purchase. The vendor's credit terms we /10, 1/30. Assume that woment purchases we initially recorded on (b) Metlack traded in equipment with a book value of $2,000 (nal cost 1,700), and paid 5.500 in cash one month after the purchase. The old equipment could have been sold for $500 at the date of trade. (The exchange has comer substance) (c) Metlack gave the vendor a $11,300 zero-interest-bearing note for the equipment on the date of purchase. The note was due in one year and was paid on time. Assume that the effective interest rate in the market was Prepare the general journal entries required to record the acquisition and payment in each of the independent cases above. (Round preset value factor calculations to decimal places, e.g. 1.25124 and final answers to decimal e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no evidry is required, select "No Fatry for the account titles and enter for the amounts.)