On march 1, fixtures and equipment were purchased for $6000 with a downpayment of $1000 and a $5000 note, payable in one year. Interest of 5.5% per year was due when the note was due. The estimated life of the fixtures and equipment is 9 years with no salvage value.

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 5.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 9 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: Cash Dollar amount: Account: Accounts Receivable Inventory Dollar amount: Account: Prepaid Rent Fixtures and Equipment Dollar amount: Account: Accounts Payable Interest Payable Dollar amount: Account: Wages Payable Notes Payable Dollar amount: Paid-in Capital Account: Retained Earnings Leave Blank Dollar amount: Account: Dollar amount: Account: Dollar amount: Submit Answer Tries 0/8 Post Discussion Send Feedback MacBook Pro esc o & 8 O @ # 6 2 3 4 5 P U O R T Y Q W E K D F G H