New sound system-write a journal entry

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You purchased a new sound system that costs 2,500. You signed a six month 10% installment note payable for the cost of the sound system. The sound system has an estimated useful life of 5 years the residual salvage value is 100. Write a journal entry and show your work please.

Reference no: EM131294954

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New sound system-write a journal entry : You purchased a new sound system that costs 2,500. You signed a six month 10% installment note payable for the cost of the sound system. The sound system has an estimated useful life of 5 years the residual salvage value is 100. Write a journal entry..

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