Response to the following :
Asset Purchased Partially with Cash
Refer to the data in problem. Assume the company borrowed $15,000 of the purchase price from a bank. Make the necessary journal entry(ies) to record this transaction.
Problem:
Asset Purchased with Cash
The company used cash to purchase a stamping machine. The retail price on the machine is $35,000, but the company received a 2% discount. It also paid $2,150 in sales tax for the purchase. Make the necessary journal entry(ies) to record this transaction.