(Answered) Question - meaghan decided to buy equipment so that she

Accounting

Question - Meaghan decided to buy equipment so that she could set up a small business consulting firm by using an installment plan fo her purchase. She purchased equipment by paying $1,000 down and agreeing to make 4 annual installments of $1,500 each at an imputed market interest rate of 12%. At what amount should Meaghan record her equipment purchase?

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