On March 1, fixtures and equipment were purchased for $6,000 with a downpayment of $1,000 and a $5,000 note, payable in one year. Interest of 6.5% 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 entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.]

Transaction 8 On March 1, fixtures and equipment were purchased for $6,000 with a downpayment of $1,000 and a $5,000 note, payable in one year. Interest of 6.5% 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 entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.] Account: Fixtures and Equipment Dollar amount: 6000 Account: Cash Dollar amount: 1000 Account: Notes Payable Dollar amount: 5000 Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount