Course Contents >> PROBLEM #8 (FINANCIAL ACCOUNTING) Timer Notes Evaluate Feedback Print Info Transaction 8 On March 1, fixtures and equipment were purchased for $4,000 with a downpayment of $2,000 and a $2,000 note, payable in one year. Interest of 6.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 10 years with no expected salvage value. (Note: Record the complete entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.) Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Submit Answer Tries 0/8 Post Discussion Send Feedback