Company acquired Equipment used in the manufacturing process. The total purchase price was $25,000 (including $22,000 for the equipment, $1,200 in sales tax, $800 shipping cost, and $1,000 installation costs). The purchase price was paid by signing a Notes Payable due in 6 months with a 8% interest rate. Assume 360 days in the year. Full payment of prin & interest due in one payment at maturity. Record journal entry.