Required information [The following information applies to the questions displayed below] On January 2, Summers Company recelved a machine that the company had ordered with an invoice price of $93,000. Freight costs of $720 were paid by the vendor per the sales agreement. The company exchanged the following an January 2 to acquire the machine: a. Issued 1,300 shares of Summers Company common stock, par value $1 (market value, $3.50 per share) b. Signed a note payable for $63,000 with an 11.2 percent interest rate (principal plus interest are due April 1 of the current year). c. The balance of the involce price was on account with the vendor, to be paid in cash by January 12. On January 3, Summers Company paid $3,000 cash for installation costs to prepare the machine for use. On January 12, Summers Company paid the balance due on its accounts payable to the vendor: Required: 2. Record the purchase on January 2 , the installation costs on January 3 , and the subsequent payment on Janua required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the purchase of equipment. Note: Enter debite before credits. Retord the installation costs on January 3. Notes Enter debits before credits: Rekord the balance paid from the January 2 purchase. Note: Enter debits before credits