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can you please solve this one Pharoah Well Services Ltd. purchased equipment for $895,000 on September 30, 2021. The equipment was purchased with a $157,000
can you please solve this one
Pharoah Well Services Ltd. purchased equipment for $895,000 on September 30, 2021. The equipment was purchased with a $157,000 cash down payment and through the issue of a $738,000,5-year, 4.8% mortgage note payable for the balance. The terms provide for the mortgage to be repaid in monthly blended payments of $13.859 starting on October 31. (a) Record the issue of the note payable on September 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Sept. 30, 2021 (To record purchase of equipment in exchange for cash and aStep by Step Solution
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