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Metlock, Inc. purchased two trucks by issuing a $124,800, 5-year, zero-interest-bearing note to GEC Funding Inc The market rate of interest for obligations of this
Metlock, Inc. purchased two trucks by issuing a $124,800, 5-year, zero-interest-bearing note to GEC Funding Inc The market rate of interest for obligations of this nature is 10% Prepare the journal entry to record the purchase of the two trucks. (Round present value factor calculations to 5 decimal places, es. 1.25124 and final answers to decimal places, eg: 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit
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