$7-$b$-2$ Equipment costing $$459,600$ was purchased on July $1,2023.$ Cash in the amount of $$159,600$ was paid at the time of purchase; the vendor accepted revenue anticipation notes in the amount of $$300,000$ to finance the remainder of the equipment. Of this amount, $$150,000$ of the notes will be payable on July $1,2024($next yr$)$; the other $$150,000$ will be payable on July $1,2025.$ All notes bear interest at the rate of $3\mathrm{.}25$ percent per year. Record only the purchase and the related payment of cash and issuance of notes at this time; interest will be recorded in a later transaction.