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Transaction 8 of $1,500 and a $3,500 note estimated life of the fixtures and equipment is 8 vears with no expected salvage

Transaction 8 of $1,500 and a $3,500 note, estimated life of the fixtures and equipment is 8 vears with no expected salvage value, [Note: Record the complete entry for the March 1 equipment purchase first, the March 31 depreciation adiusting tures and equipment were purchased for $5,000 with one year. Interest of 5% per year was due when the note was repaid. The entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.] Dollar amount: Account: Cash 1500 Account: Dollar amount: Fixtures and Equipment 5000 Dollar amount: Account: Notes Payable 3500 Dollar amount: Account: Fixtures and Equipment 45 45 Account: Retained Earnings Dollar amount: 45.45 Dollar amount: Account: Interest Payable 18.75 Dollar amount: Retained Earnings Account: -18 75 Dollar amount: Account: Leave Blank Foil1-Leave % 20Blank Submit Answer Incorrect. Tries 1/8 Previous Tries

Feb 06 2020 View more View Less

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