Transaction 8 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 6% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 10 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: -1500 Account: Fixtures and Equipment Dollar amount: 5500 Account: Notes Payable Dollar amount: 4000 Account: Fixtures and Equipment Dollar amount: -57.29 Account: Retained Earnings Dollar amount: -57.29 Account: Interest Payable Dollar amount: 20 Account: Retained Earnings Dollar amount: -20 Account: Leave Blank Dollar amount: Foil1=Leave%20Blank Submit Answer Incorrect. Tries 1/8 Previous Tries