Connors corporation acquired manufacturing equipment for use in its assembly line. below are four independent situations relating to the acquisition of the equipment. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.)

a. the equipment was purchased on account for $29,000. credit terms were 2/10, n/30. payment was made within the discount period and the company records the purchases of equipment net of discounts.
b. connors gave the seller a noninterest-bearing note. the note required payment of $31,000 one year from date of purchase. the fair value of the equipment is not determinable. an interest rate of 11% properly reflects the time value of money in this situation.
c. connors traded in old equipment that had a book value of $8,000 (original cost of $18,000 and accumulated depreciation of $10,000) and paid cash of $26,000. the old equipment had a fair value of $4,100 on the date of the exchange. the exchange has commercial substance.
d. connors issued 2,000 shares of its no-par common stock in exchange for the equipment. the market value of the common stock was not determinable. the equipment could have been purchased for $28,000 in cash.