Exam $3$: Ch$10,11$

Question $7$ of $12$

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Windsor plc purchased a truck by issuing an $67,200,4-$year, zero$-$interest$-$bearing note to Equinox Inc. The market rate of interest for obligations of this nature is $10\%.$

Prepare the journal entry to record the purchase of this truck. $($Round present value factor calculations to $5$ decimal places, eg$.1\mathrm{.}25124$ and final answers to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Trucks

Debit

Credit

Credit

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