On March 1, fixtures and equipment were purchased for $5,500 with a downpayment of $2,000 plus a $3,500 note payable in one year Interest of 4 per year is due when the note is repaid The estimated life of the fixtures and equipment is 8 years with no expected salvage value Depreciation on the fixtures and equipment is computed on a straight line basis Note Record the March 1 equipment purchase first, then the March 31 depreciation adjusting entry, and finally the March 31 interest adjusting entry Also , round all answers to the nearest cent Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount Account Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid in Capital Retained Earnings Leave Blank Dollar amount PLEASE ONLY USE ACCOUNT NAMES THAT ARE PROVIDED ALL I KNOW IS THAT 7 OF THE 8 ACCOUNTS GET USED

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On March 1, fixtures and equipment were purchased for $5,500 with a downpayment of $2,000 plus a $3,500 note payable in one year. Interest of

On March 1, fixtures and equipment were purchased for $5,500 with a downpayment of $2,000 plus a $3,500 note payable in one year. Interest of 4% per year is due when the note is repaid. The estimated life of the fixtures and equipment is 8 years with no expected salvage value. Depreciation on the fixtures and equipment is computed on a straight-line basis. [Note: Record the March 1 equipment purchase first, then the March 31 depreciation adjusting entry, and finally the March 31 interest adjusting entry. Also, round all answers to the nearest cent.]

Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount: