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Carla Corporation purchased a truck by Issuing an $86,400,4-yea, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this mature 11%.

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Carla Corporation purchased a truck by Issuing an $86,400,4-yea, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this mature 11%. Prepare the journal entry to record the purchase of this truck. (Round present value factor calculations to decimal places .g. 1.25124 and nalanswers to decimal places 5,275. Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no antry is required, elect"No Entry for the account titles and enter O for the amounts.) Account Titles and Explanation Trucks Discount on Notes Payable Notes Payable

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