Question
Purchased used heavy-duty dump truck with plow for snow plowing from PP Equipment for $20,000, $500 down payment, 5%, 5-year note for the remaining balance.
Purchased used heavy-duty dump truck with plow for snow plowing from PP Equipment for $20,000, $500 down payment, 5%, 5-year note for the remaining balance. Calculate monthly payment in Excel. What is the monthly payment, how much of the payment is interest and how much on the principal? How do I record this transaction on paper and also in Quick Books?
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
2nd Canadian Edition
0176707123, 978-0176707125
