Home C Grammarly Lab 2 Pearson WP Lab 2 wP QU X Home Search Sheffiel Course G Sheffie b Questic Home ChatGP Mail - S - education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=723ac1ac-ce42-49c5-b29e-9878d6597f4c#/questi... Roblox Masjid Al Furqan -... Build a Water Well... Grades Used Cars $$$$ 9anime - Watch A... Question 7 of 8 2.14/10 Current Attempt in Progress Crane Cosmetics Co. purchased equipment on December 31, 2023, paying $50,800 down and agreeing to pay the balance in four equal instalments of $42,300 payable each December 31. An assumed interest of 8% is implicit in the purchase price. Sabonis has a March 31 year end. factor table PRESENT VALUE OF 1. factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) Your answer is correct. Using (1) factor tables, (2) a financial calculator or (3) Excel function PV, calculate the amount to be recorded to the note payable account. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 5,275.) Notes Payable +A 140103 All Bookmarks SUPPORT Question 7 of 8 < (b) Your answer is partially correct. 2.14/10 == Prepare the journal entry that would be recorded for the purchase of the equipment. (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 O for the amounts. List all debit entries before credit entries.) Date December Account Titles and Explanation Equipment 31, 2023 Debit Credit 42300 Notes Payable Cash eTextbook and Media 50,700 140103