On March 1, fixtures and equipment were purchased for $5,500 with a downpayment of $1,000 and a $4,500 note, payable in one year. Interest of 4.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 11 years with no expected salvage value. [Note: Record the complete March 1 entry for the equipment purchase first, the complete March 31 depreciation adjusting entry second, and the complete March 31 interest adjusting entry third.]