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Company purchased equipment by giving a cash deposit and signing a two-year, 10% note. Select the account(s) that would be debited and credited when

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Company purchased equipment by giving a cash deposit and signing a two-year, 10% note. Select the account(s) that would be debited and credited when recording the above transaction. If a second debit or credit does not apply, select "None" as a match. Debit Note Payable Debit None Credit Interest Payable Credit None

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