(9 points - 3 each) Mother Hips Garment Company purchased equipment on June 1 for $90,000, paying $20,000 cash and signing a 9%, 2-month note for the remaining balance. The equipment is expected to depreciate $18,000 each year. Mother Hips Garment Company prepares monthly financial statements. Instructions (a) Prepare the journal entry to record the acquisition of the equipment on June 1st. (b) Prepare the journal entry to record depreciation for the month of July. (c) Prepare the journal entry to record the payment of the note on August 1. Edit View Insert Format Tools Table