Bref Exercise 10-05 Martinez Corporation purchased a truck by issuing an $110,400, 4 year, zero-interest-bearing...
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Bref Exercise 10-05 Martinez Corporation purchased a truck by issuing an $110,400, 4 year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 9%. Prepare the journal entry to record the purchase of the truck (Round present value factor calculations te decimal places 1.25124 and final answers to decimal places 5.275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Account Tities and Explanation Debit Credit Trucks Discount on Notes Payable 110400 Click if you would like to show Work for this questioni Open Show Work
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