3. Equipment listed at $16,200 is purchased and invoiced at 2/10, n/30. To take advantage of the discount, the company borrows $14,400 by issuing a 60-day, 15% note, which is paid with interest at its maturity date. Ref Account Name Dr. Cr. a. Equipment 15,876 0 Cash 15,876 b. Note Payable 14,400 Interest Expense 2,160 x 2,160 x Cash 0 15,876 x 0