(Answered) On january 1 2010 the sanders corporation purchased

Accounting

On January 1, 2010, the Sanders Corporation purchased equipment having a fair value of $68,301.30 by issuing a non interest bearing, $100,000, four year note due December 31, 2013.

Requirement:
Prepare the journal entries to record

(1) The purchase of the equipment,

(2) The annual interest charges over the life of the note,

(3) The repayment of the note.

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