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Business, 06.12.2021 17:20 cearadenney7067

McGill Corporation purchased some equipment by issuing a $20,000 non-interest-bearing, four-year note when interest rates were 8%. Actuarial information of 8% for four periods follows: Future amount of 1 1.360489
Present value of 1 0.735030
In the entry to record this purchase, there would be a:.
a. $20,000 debit to Equipment
b. $5,299.40 debit to Discount on Notes Payable
c. $27,209.78 credit to Notes Payable
d. $14,700.60 credit to Equipment

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