Cullumber Well Services Ltd. purchased equipment for $ 898,000 on September 30, 2021. The equipment was purchased with a $ 151,000 cash down payment and through the issue of a $ 747,000, 5-year, 4.8% mortgage note payable for the balance. The terms provide for the mortgage to be repaid in monthly blended payments of $ 14,028 starting on October 31.

Record the issue of the note payable on September 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 30, 2021
	(To record purchase of equipment in exchange for cash and a note.)

Record the first two instalment payments on October 31 and November 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)

Date	Account Titles and Explanation	Debit	Credit
Oct. 31, 2021
	(To record payment on note.)
Nov. 30, 2021
	(To record payment on note.)

Record the first two instalment payments on October 31 and November 30 assuming that the terms provided for monthly fixed principal payments of $ 12,450, rather than blended payments of $ 14,028. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)

Date	Account Titles and Explanation	Debit	Credit
Oct. 31, 2021
	(To record payment on note.)
Nov. 30, 2021
	(To record payment on note.)