20

Teal plc purchased a computer on December 31, 2021, for 150,800, paying 34,800 down and agreeing to pay the balance in five equal installments of 23,200 payable each December 31 beginning in 2022. An assumed interest rate of 12% is implicit in the purchase price. (a) Prepare the journal entry at the date of purchase. (Round foctor values to 5 decimal places, eg. 125124 ond final answers to 2 decimal places, eg. 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 for the amounts.) Date Account Titles and Explanation Debit Credit December 31, 2021 Computers Cash Accounts Payable