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TalisaCLIUI 8 On March 1, fixtures and equipment were purchased for $4,500 with a downpayment of $1,500 and a $3,000 note, payable in one year.
TalisaCLIUI 8 On March 1, fixtures and equipment were purchased for $4,500 with a downpayment of $1,500 and a $3,000 note, payable in one year. Interest of 6.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 9 years with no expected salvage value. [Note: Record the complete entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.] Account: Cash Dollar amount: Account: Fixtures and Equipment Dollar amount: Account: Accounts Payable Dollar amount: Account: Fixtures and Equipment Dollar amount: Account: Retained Earnings Dollar amount: Account: Interest Payable Dollar amount: Account: Retained Earnings Dollar amount: Account: Leave Blank Dollar amount
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