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The equipment that was bought had a fair market value of $450,000, but the actual purchase price was $400,000. They signed a 5-year 6% note
The equipment that was bought had a fair market value of $450,000, but the actual purchase price was $400,000. They signed a 5-year 6% note payable and paid $150,000 cash. How do I record this as a journal entry
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