Determining Acquisition Cost for an Asset Acquired in Exchange fora Note Payable. Assume that spring. field Foods, Inc. a custom-made refrigeration system by issuing a SI.500,000,10-year non-interest- acquired bearing note payable at a time when the market interest rate for similar debt instruments was 5%. The asset and the note do not have a readily determinable fair value. Prepare the journal entry required to record Springfield's purchase of the refrigeration system.