Question: On September 1 , 2 0 2 3 , Sandhill Ltd . purchased equipment for $ 3 4 , 2 0 0 by signing a

On September 1,2023, Sandhill Ltd. purchased equipment for $34,200 by signing a two-year note payable with a face value of $34,200 due on
September 1,2025. The going rate of interest for this level of risk was 7%.
On September 1 , 2 0 2 3 , Sandhill Ltd .

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