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Jan 1st, 2019: ABC Inc. buys a machine from SW Inc. and will make 3 equal...

Jan 1st, 2019: ABC Inc. buys a machine from SW Inc. and will make 3 equal payments of 200,000 over the next 18 months, payments on June 30, 2019, Dec 31, 2019, and June 30, 2020. The interest rate on this annuity is 14%. Record all the journal entries from Jan 1st 2019 until the expiration of the annuity under the condition that the machine does not depreciate.

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ekkarill92 answered 1 year ago
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