Unformatted text preview: annual payment? ### What is the journal entry at the purchase date? Machine 500,000 N/P 500,000 What is the entry at the time of the first payment? Interest expense 30,000 Note payable 88,698 Cash 118,698...
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This note was uploaded on 01/31/2011 for the course MGMT 351 taught by Professor Staff during the Spring '08 term at Purdue.
- Spring '08