1 of 2 ts Book Print ference Required information The following information applies to the questions displayed below.) On January 2, Summers Company received a machine that the company had ordered with an invoice price of $96,000. Freight costs of $640 were paid by the vendor per the sales agreement. The company exchanged the following on January 2 to acquire the machine: a. Issued 2,600 shares of Summers Company common stock, par value $1 (market value, $3.50 per share). b. Signed a note payable for $57,000 with an 13.0 percent interest rate (principal plus interest are due April 1 of the current year). c. The balance of the invoice price was on account with the vendor, to be paid in cash by January 12. On January 3, Summers Company paid $2,600 cash for installation costs to prepare the machine for use. On January 12, Summers Company paid the balance due on its accounts payable to the vendor. Required: 2. Record the purchase on January 2, the installation costs on January 3, and the subsequent payment on January 12 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the purchase of equipment. Note: Enter debits before credits. Date January 02 General Journal Debit Credit Record entry View general journal Clear entry