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cf On March 1, fixtures and equipment were purchased for $4.500 with a downpayment of $1.500 and a $3,000 note, payable in one year. Interest

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cf On March 1, fixtures and equipment were purchased for $4.500 with a downpayment of $1.500 and a $3,000 note, payable in one year. Interest of 5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 8 years with no expected salvage value. [Note: Record the complete entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.] Accoun Cash Account Fixtures and Equipment Account Notes Payable Account: Fixtures and EquipmentDollar amount: Account: Retained Earnings Account: Interest Payable Account: Retained Earnings Dollar amount: Dollar amount: Dollar amount: Dollar amount: Dollar amount: Dollar amount: Account: Leave Blank Dollar amount

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