RECOMMENDED!!ACC 221 6385-Alpha Company prepares quarterly adjusting entries

  

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 value of the note. Use this information to prepare the general journal entry for the November 1 equipment purchase. You also will show additional general journal adjusting entries for Fiscal year 2017 & 2018. Also, show the general journal entry to record the payment of the note when due in 2018.

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