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University Of Tennessee Operations And Supply Chain Management Assignment Help - ACCOUNTING TRANSACTION


Question - Purchase a 20xw Ford truck for $26,750. The terms include a $4,750 down payment an a 3-year, 6%
promissory note to Ford Credit for the remaining $22,000, principal and interest on the note are due
monthly beginning January 4, 20xy. The company expects the truck to have a useful life of 5 years
and no salvage value. Prepare the transaction and show how the transaction recorded in the journals
and ledgers.
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