Chavez corporation purchased a truck by issuing an 80000


Problem

Chavez Corporation purchased a truck by issuing an $80,000, four-year, non-interest-bearing note to Equinox Inc. The market interest rate for obligations of this nature is 12%. Prepare the journal entry to record the truck purchase.

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Accounting Basics: Chavez corporation purchased a truck by issuing an 80000
Reference No:- TGS02585614

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