Business Transaction $1$

Phoenix Golf Club Co$.($PGC$)$ purchases a new piece of equipment for $$50,000,$ using a cash down payment of $$5,000$ and a note payable for the outstanding balance.

$\backslash$table$[[$Financial Account Check if the Account Is Affected by the Specified Transaction$],[$Cash$],[$Accounts payable$],[$Cost of goods sold$],[$Notes payable$],[$Gross plant and equipment$]]$

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