Sring coming inc purchased equipment agreeing to pay


Question - Spring Coming Inc. purchased equipment agreeing to pay $ 12,000 down and make 6 annual payments of $ 7000 at an effective rate of 5%. Record the initial purchase entry, and the first two payment entries. Show calculations.

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Accounting Basics: Sring coming inc purchased equipment agreeing to pay
Reference No:- TGS02526999

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