In, january 1,2018.faital plc acquired a computer from plato group by issuing $600,000 zero interest bearing note, payable in full on january 1,2023 .faital company credit rating permits it to borrow funds from its several lines of credit are computer is expected to have a 5year life and a $70,000 residual value.
instructions
a, prepare the journal entry for the purchase on january1,2018.
b, prepare any necessary adjusting entries relative to depreciation (use straight line) amortization on december31,2018.
c. prepare any necessary adjusting entries relative to depreciation and amortization on descember31,2019.
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In, january 1,2018.faital plc acquired a computer from plato group by issuing $600,000 zero interest...
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