Alexander cosmetics co purchased machinery on December 31, 2024 paying $48,000 down and agreeing to pay the balance in four equal installments of $47,200 payable each December 31. An assumed interest of 9% is implicit in the purchase price.

Prepare the journal entries that would be recorded for the purchase,and for (1) the payments and (2) interest on the following dates.

(a) December 31,2024 . (b) Decomber 31,2025 . (c) December 31.2026 . (a) December 31.2027 . (c) Decemher 31,202A. No. Account ritles and Explanation Debit Credat (a) (b)(1) (b) (2) (c)(1)