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Corporation XYZ acquired a machine by making a $5,000 down payment and issuing a $15,000, 2-year, zero-interest-bearing note. It is estimated that the machine could

Corporation XYZ acquired a machine by making a $5,000 down payment and issuing a $15,000, 2-year, zero-interest-bearing note. It is estimated that the machine could have been purchased outright for $17,950. Prepare the journal entry to record this transaction.

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