Vaughn Corporation purchased a computer on December $31,2024,$ for $$136,500,$ paying $$39,000$ down and agreeing to pay the balance in five equal installments of $$19,500$ payable each December $31$ beginning in $2025.$ An assumed interest rate of $9\%$ is implicit in the purchase price.

$($a$)$

Your answer is partially correct.

Prepare the journal entry at the date of purchase. $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answers to $2$ decimal places, e$.$g$.52\mathrm{.}75.$ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

:$31,2024$

Equipment

Discount on Notes Payable