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On 2/1, Rick's Body shop purchases equipment for $60,000, paying $30,000 down and financing the rest on a 3 year note at 10% interest per
On 2/1, Rick's Body shop purchases equipment for $60,000, paying $30,000 down and financing the rest on a 3 year note at 10% interest per year. Rick's Body Shop must make its first payment on January 15 of the following year. What is the corresponding Journal Entry for this information?
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Financial and Managerial Accounting Information for Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
5th edition
978-1259317552, 1259317552, 978-0078025600, 78025605, 978-1259335013, 1259335011, 978-1259347641
