Equipment was purchased for $36,000 by issuing a 5 year note payable to the seller for $20,000 , the balance paid in cash The note pays 5 interest annually on January 1 st For expense purposes, the equipment was given a 6 year life with no salvage value The company will use the straight line method to depreciate all its fixed assets Equipment was purchased for $36,000 by issuing a 5 year note payable to the seller for $20,000, the balance paid in cash The note pays 5 interest annually on January 1 st For expense purposes, the equipment was given a 6 year life with no salvage value The company will use the straight line method to depreciate all its fixed assets Equipment was purchased for $36,000 by issuing a 5 year note payable to the seller for $20,000, the balance paid in cash The note pays 5 interest annually on January 1 st For expense purposes, the equipment was given a 6 year life with no salvage value The company will use the straight line method to depreciate all its fixed assets

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Equipment was purchased for $36,000 by issuing a 5 year note payable to the seller for $20,000 , the balance paid in cash  The note pays 5  interest annually on January 1 st  For expense purposes, the equipment was given a 6 year life with no salvage value  The company will use the straight line method to depreciate all its fixed assets  Equipment was purchased for $36,000 by issuing a 5  year note payable to the seller for $20,000, the balance paid in cash  The note pays 5  interest annually on January 1 st  For expense purposes, the equipment was given a 6  year life with no salvage value  The company will use the straight line method to depreciate all its fixed assets  Equipment was purchased for $36,000 by issuing a 5  year note payable to the seller for $20,000, the balance paid in cash  The note pays 5  interest annually on January 1 st  For expense purposes, the equipment was given a 6  year life with no salvage value  The company will use the straight line method to depreciate all its fixed assets

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Equipment was purchased for $36,000 by issuing a 5-year note payable to the seller for $20,000 , the balance paid in cash. The note pays

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