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A down payment of 34000 in cash was made on additional

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A down payment of 34000 in cash was made on additional computer equipment that was purchased for 170,000. A five year note was executed by the company for the balance? What accounts need to be credited and debited and for how much? My guess is: ?? 34000- cash -debit 136000- notes payable- debit 170000- computer equipment-credit.

Reference no: EM13598792

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