Sec: Question 1 Blue Corporation purchased a machine for $248,000 on September 1, 2020, by paying 20% down payment in cash and signing a 5%, 8-month note payable for the balance amount. Interest and principle will be paid back together at the end of the note. Prepare all relevant journal entries. Answer: Date Account Debit Credit Question 2 Green Corporation is authorized to issue 120.000 common shares and 80.000. $4 preferred shares. At Jan