Question
Sept. 1 The company purchased office equipment costing $8,000 by signing a 6% note due in three years. The Equipment has a 5 year life
Sept. 1 The company purchased office equipment costing $8,000 by signing a 6% note due in three years. The Equipment has a 5 year life and no salvage value. The note requires monthly payments of $225 beginning on October 1st until the balance is paid.
How do I journalize this?
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Equity Asset Valuation
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
2nd Edition
470571439, 470571438, 9781118364123 , 978-0470571439
