Question: On January 1 Beck Incorporated purchased equipment of 100 000

On January 1, Beck Incorporated purchased equipment of $ 100,000 with a long-term note payable. The debt is payable in annual installments of $ 20,000 due on December 31 of each year. At the date of purchase, how will Beck Company report the note payable?


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  • CreatedApril 03, 2015
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