Introduction to Financial Accounting (11th Edition)

Study Appendix 9 Appendix nine consist of financial equasions for calculating various Intrerests and value functions

Benenson Company Bought som Equipment on cotracr entailing E200,000 cash down and an E800000 lump um payment in 4 years. The same equipment could have been bought for E788,000 cash.

1. Prepare the journal entry for the aquisition of the equipment.

2. Prepare journal entries at the end of each of the first 2 years. Ignor entries for Depriciation.

question 9-48

the General Ledger/Journaal

Can you tell me accounts are involved and for how much? I can't seem to get things to Balance

Thanks in advance

PS to fully undersand my quetion you must have access to the

Introduction to Financial Accounting (11th Edition) text book