Question
On April 1, 2015, Nurix Manufacturers purchases equipment for $100,000, paying $30,000 in cash and signing a 10-year mortgage for $70,000 taken out at 8%.
On April 1, 2015, Nurix Manufacturers purchases equipment for $100,000, paying $30,000 in cash and signing a 10-year mortgage for $70,000 taken out at 8%. Prepare the journal entry to record the acquisition of the equipment.
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Financial And Managerial Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliver
1st Edition
0558241050, 978-0558241056
