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What amount on january at the equipment account

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Reference no: EM132511082

On January 1, 2015, a company purchased equipment at a contract price of $56,000. The company made a cash down payment of $6,000 and signed a 3 year, 6% non-interest bearing note for the balance, due on December 31, 2017. Interest is compounded annually.

Question1 : The equipment account would be debited for what amount on January 1, 2015?

Reference no: EM132511082

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