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Prepare the journal entry at december 31 2017 to record the

Indigo Corporation purchased a computer on December 31, 2016, for $140,700, paying $40,200 down and agreeing to pay the balance in five equal installments of $20,100 payable each December 31 beginning in 2017. An assumed interest rate of 9% is implicit in the purchase price.

Prepare the journal entry at December 31, 2017, to record the payment and interest (effective-interest method employed).

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Accounting Basics: Prepare the journal entry at december 31 2017 to record the

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Accounting Basics: Prepare the journal entry at december 31 2017 to record the

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