8.

On March 1, fixtures and equipment were purchased for $6,000 with a downpayment of $2,000 plus a $4,000 note payable n one year. Interest of 5.5% per year is due when the note is 1 repaid. The estimated life of the fixtures and equipment is 9 years with no expected salvage value. Depreciation on the fixtures and equipment is computed on a straight-line basis