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Prepare the general journal entry to record the payment

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Question - Alpha Company prepares quarterly adjusting entries. On November 1, 2017. Alpha Company purchased equipment with a sticker price of $8,515 and signed a note due in 9 months for $10,000 that included interest in the valve of the note. Use this information to prepare the general journal entry for the November 1 equipment purchase. Use any additional general journal adjusting entries for Fiscal Years 2017 $ 2018. Additionally, prepare the general journal entry to record the payment of the note when due in 2018.

Reference no: EM131693960

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