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Robert corporation purchased some equipment by issuing $20.000 non interest bearing, four year note wwhen interest rate were 8%. Acturial information for 8% and 4 period follows furutre amount of 1: 1.360 present value of 1 : 0.735 in the entyr to record this purchse, there would be a 1. $20000 debit to equipment 2. $5300.00 credit to discount on notes payable 3. $27,210.88 credit to notes payable 4.$ 14,700..0 debit to euqipment

Robert corporation purchased some equipment by issuing $20.000 non interest bearing, four year note wwhen interest rate were 8%. Acturial information for 8% and 4 period follows furutre amount of 1: 1.360 present value of 1 : 0.735 in the entyr to record this purchse, there would be a 1. $20000 debit to equipment 2. $5300.00 credit to discount on notes payable 3. $27,210.88 credit to notes payable 4.$ 14,700..0 debit to euqipment

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 5EB: Steele Corp. purchases equipment for $30,000. Regarding the purchase, Steele paid shipping of...
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Robert corporation purchased some equipment by issuing $20.000 non interest bearing, four year note wwhen interest rate were 8%. Acturial information for 8% and 4 period follows furutre amount of 1: 1.360 present value of 1 : 0.735 in the entyr to record this purchse, there would be a

1. $20000 debit to equipment 2. $5300.00 credit to discount on notes payable 3. $27,210.88 credit to notes payable 4.$ 14,700..0 debit to euqipment

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