Question: PRINTER VERSION RAK NP Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment

PRINTER VERSION RAK NP Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year 3,950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole dollar.. 5.275. Credit account titles are automatically indented the amount is entered. Do not indent manually.) Debat Credit Date Account Titles and Explanation Sept. 30 Equipment 1030000 50000 Cash 995000 Bank loan payable SHOW LIST OF ACCOUNTS TOTEC Record the accrual of interest expense on November 30, 2017. Round answers to the nearest whole dollar...27. Credit accounts aroutomatically when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Record the first two Instalment payments, on December 31, 2017, and March 31, 2018. (Round answers to the nearest whole dollar, c.0.5.250. Credit account titles ar automatically Indented when the amount is entered. Do not indent manually.) Debat Credit Eart Date Account Tities and Explanation Dec 31, 2017 Bank Loan Payable 79167 Interest Payable 70 1125 by Study Interest Expense 91047 Cash 2016 Mar. 31. 2018 Bank Loan Povable 711 interest Expense 36292 SHOW 1151 OF ACCOUNTS LIETOTEM
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