Journalize the following transactions during the monthe of December 2016:

Purchased an automobile for employees to use when driving to giv offsite haircuts, such as to area senior citizen homes. Record as Hair Equpment. Cost of the auto is $21,000. $10,000 is paid in cash and the remainder is financed with a three-year, 8% note payable, the principle amount of the note being paid in full on December 1, 2016. Interest is paid annually each December 1, beginning December 1, 2017.