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On January 2 , 2 0 2 2 , a company purchased a piece of equipment to be used in its operations. The price of
On January a company purchased a piece of equipment to be used in its operations. The price of the machine is to be paid in four equal installments of $ each the first of which is a downpayment paid to the supplier on January Each of the other three payments will be made on December of the years and
Assuming an implicit interest rate of the discounted value of the three future payments is $ Given the above information, answer the following questions in your answer, do not use $ nor signs and give answers rounded to the nearest dollar.
The value of the machine to be recorded in the books on January is
The Notes payable amount to be recorded on January if the company uses the gross method to account for the liabilities is
The amount of interest expense to be recorded at the end of the year, on December is
The amount of interest expense to be recorded at the end of is
The net carrying value of the notes payable at the end of is
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