Indigo Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are described below. 1.Truck #1 has a list price of $29,550 and is acquired for a cash payment of $27,383.
2.Truck #2 has a list price of $31,520 and is acquired for a down payment of $3,940 cash and a zero-interest-bearing note with a face amount of $27,580. The note is due April 1, 2021. Indigo 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%.
3.Truck #3 has a list price of $31,520. It is acquired in exchange for a computer system that Indigo carries in inventory. The computer system cost $23,640 and is normally sold by Indigo for $29,944. Indigo uses a perpetual inventory system.
4.Truck #4 has a list price of $27,580. It is acquired in exchange for 920 shares of common stock in Indigo Corporation. The stock has a par value per share of $10 and a market price of $13 per share.

Prepare the appropriate journal entries for the above transactions for Indigo Corporation. (Round present value factors to 5 decimal places, e. g. 0.52587 and final answers to 2 decimal places, e. g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Abond is issued for less than its face value. which statement most likely would explain why? a. the bond's contract rate is higher than the market rate at the time of the issue. b. the bond's contract rate is the same as the market rate at the time of the issue. c. the bond's contract rate is lower than the market rate at the time of the issue. d. the bond isn't secured by specific assets of the corporation.

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Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.suppliesjan. 31 bal. 1,800 1,800 jan. 31 bal.supplies expensejan. 31 bal. 1,920 1,148 jan. 31 bal.prepaid insurancejan. 31 bal. 1,148 1,148 jan. 31 bal.insurance expensejan. 31 bal. 164 164 jan. 31 bal.wages payablejan. 31 bal. 1,400 1,400 jan. 31 bal.wages expensejan. 31 bal. 6,400 6,400 jan. 31 bal.truckjan. 31 bal. 17,376 17,376 jan. 31 bal.accumulated depreciation -truckjan. 31 bal. 5,068 5,068 jan. 31 bal.a. if the amount in supplies expense represents the january 31 adjustment for the supplies used in january, and $1,240 worth of supplies were purchased during january, what was the january 1 beginning balance of supplies? $answerb. the amount in the insurance expense account represents the adjustment made at january 31 for january insurance expense. if the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? amount of the premium $answerthe policy began on answerjune 1july 1august 1september 1october 1november 1 of the previous year.c. if we assume that no beginning balance existed in either in either wage payable or wage expense on january 1, how much cash was paid as wages during january? $answerd. if the truck has a useful life of four years (or 48 months), what is the monthly amount of depreciation expense, and how many months has bloomfield owned the truck? answermonths