Refer to the data in PE 9-3. Assume the company borrowed $20,000 of the purchase price from
Question:
Refer to the data in PE 9-3. Assume the company borrowed $20,000 of the purchase price from a bank. Make the necessary journal entry to record this transaction.
Data from PE 9-3
K. Marie Company used cash to purchase a stamping machine. The retail price on the machine is $62,000, but the company received a 1.5% discount. It also paid $3,850 in sales tax for the purchase. Make the necessary journal entry to record this transaction.
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Stamping Machine 64920 Cash 44920 Notes Payable ...View the full answer
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Related Book For 
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ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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