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Transaction 8 On March 1, fixtures and equipment were purchased for $4,500 with a downpayment of $1,000 and a $3,500 note, payable in one year. Interest of 5.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 10 years with no expected salvage value. (Note: Record the complete entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.] Dollar amount: Account: Cash -1000 Fixtures and Equipment Dollar amount: Account: 4500 Dollar amount: Account: Notes Payable 3500 Fixtures and Equipment Dollar amount: Account: -45 Retained Earnings Dollar amount: Account: -45 Interest Payable Dollar amount: Account: 16 Dollar amount: Account: Retained Earnings -16 Dollar amount: Account: Leave Blank Foil1 =Leave%20Blank Submit Answer Incorrect. Tries 1/8 Previous Tries