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On February 1, 2017, Healthy Choice Manufacturers purchased equipment for $875,000, paying $75,000 in cash and signing a 10-year mortgage at 8% annual interest for

On February 1, 2017, Healthy Choice Manufacturers purchased equipment for $875,000, paying $75,000 in cash and signing a 10-year mortgage at 8% annual interest for the difference. Prepare the journal entry to record the acquisition of the equipment.

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