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Whispering Inc. has decided to purchase equipment from Central Michigan Industries on January 2 , 2 0 2 5 , to expand its production capacity
Whispering Inc. has decided to purchase equipment from Central Michigan Industries on January to expand its production
capacity to meet customers' demand for its product. Whispering issues an $year, zerointerestbearing note to Central
Michigan for the new equipment when the prevailing market rate of interest for obligations of this nature is The company will
pay off the note in five $ installments due at the end of each year over the life of the note.
a
Prepare the journal entry at the date of purchase. Round factor values to decimal places, eg and final answers to decimal
places, eg 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 for the amounts. List all debit entries before credit entries.
Account Titles and Explanation
Debit
Credit
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