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Pier2 Company purchased equipment with a useful life of 10 years for $36,000. Pier2 paid one-third down and signed a two-year, interest-bearing note for the
Pier2 Company purchased equipment with a useful life of 10 years for $36,000. Pier2 paid one-third down and signed a two-year, interest-bearing note for the balance. Indicate how the transaction would be reported in the statement of cash flows and/or any note disclosure. Note: Do not use negative signs with any of your amount
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