On July $31,2013,$ a company purchased equipment for use in the business for $$50,000,$ paying

$$14,000$ cash and signing a $4\mathrm{.}5\%$ note payable for the remainder. The interest and principal of the note are

due on January $31,2014.$ Prepare the journal entry to record the following:

$($a$)$ The purchase of the equipment on July $31,2013$

$($b$)$ The accrual of the interest at year end, November $30,2013,$ assuming interest has not previously

been accrued

$($c$)$ The repayment of the interest and note on January $31,2014$