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'On August 1, 2021 you bought a new digital copier costing $2,751.84 including sales tax, delivery and installation. You paid for the copier by taking

'On August 1, 2021 you bought a new digital copier costing $2,751.84 including sales tax, delivery and installation. You paid for the copier by taking out a 3-year 7.5% loan. Today is August 25 and you need to record the purchase of the copier in your accounting records and make the first monthly loan payment due August 31. INSERT a new worksheet in this file named 2. Loan and use an Office template to create a loan amortization schedule. In the blank columns to the right of the schedule, enter the journal entries to record the purchase of the copier AND the first payment you are going to make today.

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