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Help Save & Exit Submit Snowbot Snow Removal Company of Halifax purchased some snowplow equipment on March 10, 2020, that had a cost of $230,000
Help Save & Exit Submit Snowbot Snow Removal Company of Halifax purchased some snowplow equipment on March 10, 2020, that had a cost of $230,000 [ignore GST/PST). Prepare the journal entries that would record this purchase and payment under these three separate situations. a. The company paid cash for the full purchase price. b. The company purchased the equipment on credit with terms 1/30, n/60. Payment was made on April 9, 2020, c. The company signed a 9%, one-year note for the full purchase price. The note was paid on March 10, 2021, the maturity date. Ignore year-end accruals
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