Solved: Garcia corporation purchased a truck by issuing an 249600, Accounting Basics

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Garcia corporation purchased a truck by issuing an 249600

Question - Garcia Corporation purchased a truck by issuing an $249,600, 4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 9%.

Prepare the journal entry to record the purchase of this truck.

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Accounting Basics: Garcia corporation purchased a truck by issuing an 249600

Reference No:- TGS02709151

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Accounting Basics: Garcia corporation purchased a truck by issuing an 249600

Reference No:- TGS02709151

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