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    Financial and Managerial Accounting Study Set 1
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    Exam 2: Accounting for Business Transactions
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    On February 5,Kirkland Co
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On February 5,Kirkland Co

Question 212

Question 212

Essay

On February 5,Kirkland Co.purchased equipment that cost $35,000.The firm paid $5,000 cash and signed a long-term note payable for $30,000.Show the general journal entry to record this transaction.

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