Larkspur Limited purchased equipment for an invoice price of $41,900, terms 4/10, n/30

Your answer is incorrect. Try again. Record the purchase of the equipment and the subsequent payment, assuming the company's payment missed the discount period. Recognize the asset at its lower "cash cost" approach using finance expense. (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 0 for the amounts.) Account Titles and Explanation Debit Credit (To record purchase of the equipment.) (To record payment for equipment.) (To record discount not taken.)