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Brief Exercise 10-05 Skysong Corporation purchased a truck by issuing an $107,200, 5-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations
Brief Exercise 10-05
Skysong Corporation purchased a truck by issuing an $107,200, 5-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 9%. Prepare the journal entry to record the purchase of this truck.
Account Titles and Explanation
Debit
Credit
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
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