Transaction 8 [4 points] On March 1, fixtures and equipment were purchased for $5,500 with a downpayment of $1,500 and a $4,000 note, payable in one year. Interest of 5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 8 years with no expected salvage value. [Note: Record the complete March 1 entry for the equipment purchase first, the complete March 31 depreciation adjusting entry second, and the complete March 31 interest adjusting entry third.] Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Submit Answer Tries 0/5