Recording Acquisition Costs Following are three separate cases. Prepare journal entries for each separate case for (a) equipment acquisition, and (b) cash payment. 1. Equipment with a list price of $27,000 is purchased; terms are 2/10, n/30. Payment is made within the discount period. Account Name Equipment Ref Dr. Cr. 0. . 2. Equipment with a list price of $18,000 is purchased; terms are 2/10,n/30. Payment is made after the discount period. Any purchase discounts lost are recorded as interest expense. Note: Record debit accounts in alphabetical order using the first letter of the account name. Ref Account Name Cr. Dr. . . . 3. Equipment listed at $8,100 is purchased and invoiced at 2/10,n/30. To take advantage of the discount, the company borrows $7,200 by issuing a 60-day, 15% note, which is paid with interest at its maturity date. Ref Account Name Equipment Dr. Cr. 7,200