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On December 31, 2025, Blossom Company acquired a computer from Plato Corporation by issuing a 573,000 zero- interest bearing note, payable in full on december
On December 31, 2025, Blossom Company acquired a computer from Plato Corporation by issuing a 573,000 zero- interest bearing note, payable in full on december 31, 2029 Blossom Company credit rating permits it to borrow funds from it's several lines of credit at 10%. the computer is expected to have a 5 year life and 70,000 salvage value.
A) Prepare the journal entry for the purchase on december 31, 2025
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