What amount should be recorded as the cost of a machine purchased on December 31, 2010,
which is to be financed by making monthly payments of $674.21 for the next seven years beginning
on December 31, 2010? The applicable annual interest rate is 8.00%

A computer server is purchased on account for $7,875.25 on May 10, 2015.
Create both the cash basis and accrual basis general journal entries for the above transaction.

Leon Tyler's VISA balance is $793.15. He may pay it off in 12 equal end-of-the-month payments of $75.00
each.
What annual interest rate is Leon paying?