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Exercise 10-3 Your answer is partially correct. Try again. Nash Corporation operates a retail computer store. To improve detivery services to customers, the company purchases four new trucks on April 1, 2017. The terms of acquisition for each truck are described below. 1. Truck #1 has a list price of $54,750 and is acquired for a cash payment of $50,735. 2. Truck #2 has a st price of $58,400 and is acquired for a down payment of S7 300 cash and a zero i terest-bearing note with a face amount of $51 100 The note i due April 1, 2018, Nash would normally have to pay interest at a rate of 9% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. Truck #3 has a list price o, S58,400. It is acquired in exchange for a computer system that Nash cames in inventory. The computer system cost 3400 and is normally sold by Nash for $55,480. Nash uses a perpetual inventory system Truck #4 has a listprice of $51,100. It is acquired in exchange for 1,020 shares of common stock in Nash Corporation. The stock has a par value per share of $10 market price of $13 per share. 3. 4. - Prepare the appropriate journal entries for the above transactions for Nash Corporation. (Round present value factors to 5 decimal places, e.g. 0.52587 and fina answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. It no entry required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. Trucks Cash 2 Trucks li