Question: Question 21 (Mandatory) (8 points) 1) Listen Spring Coming Inc. purchased equipment agreeing to pay $ 12,000 down and make 6 annual payments of $

Question 21 (Mandatory) (8 points) 1) Listen Spring Coming Inc. purchased equipment agreeing to pay $ 12,000 down and make 6 annual payments of $ 7000 at an effective rate of 5%. Record the initial purchase entry, and the first two payment entries. Attach your answer. Show your calculations

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