Swifty Industrial purchased equipment costing $560,000 on September 30, 2024, by paying 5% down and signing...

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Swifty Industrial purchased equipment costing $560,000 on September 30, 2024, by paying 5% down and signing a 6%, six-month note payable for the balance Prepare journal entries to record the purchase of the equipment, the accrual of interest on December 31, and the payment of the note at maturity. Swifty computes interest based on the number of months outstanding (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date 2024 2025 # # Account Titles Debit Credit Swifty Industrial purchased equipment costing $560,000 on September 30, 2024, by paying 5% down and signing a 6%, six-month note payable for the balance Prepare journal entries to record the purchase of the equipment, the accrual of interest on December 31, and the payment of the note at maturity. Swifty computes interest based on the number of months outstanding (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date 2024 2025 # # Account Titles Debit Credit