Directions: 1) Prepare journal entries for the below transactions 2) Post the journal entries to ledger accounts 3) Calculate the ending ledger balance Problem #7 July 18, Purple Company purchased $200,000 of computer equipment from the the Mac Store on credit. Date Accounts Debit Accounts Credit Debit Equipment Problem #8 April 1, Pink, Inc. purchased $2,500,000 of computer equipment by signing a long-term note payble. Date Credit Accounts Payable Equipment Note Payable