Question: WROTY Current Attempt In Progress Pronghorn Inc. has decided to purchase equipment from Central industries on January 2, 2022, to expand its production capacity to

WROTY Current Attempt In Progress Pronghorn Inc. has decided to purchase equipment from Central industries on January 2, 2022, to expand its production capacity to meet customers' demand for its product. Pronghorn issues a $1,062.000,5-year, zero-interest-bearing note to Central for the new equipment when the prevailing market rate of interest for obligations of this nature is 11%. The company will pay off the note in five $212,400 installments due at the end of each year over the life of the note. (a) Your answer is partially correct Prepare the journal entry at the date of purchase. (Round factor values to 5 decimal places, eg. 1.25124 and final answers to decimal places, es. 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 for the amounts.) R Question 2 of 2 0.83/5 IN Your answer is partially correct Prepare the journal entry at the date of purchase. (Round factor values to 5 decimal places, eg 1.25124 and final answers to O decimal places, eg 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 for the amounts.) Account Titles and Explanation Debit Credit taiment Nous Payable e Textbook and Media List of Accounts
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