On April 1, 2015, Nurix Manufacturers purchases equipment for $100,000, paying $30,000 in cash and signing a 10-year mortgage for $70,000 taken out at 8%. Prepare the journal entry to record the acquisition of the equipment.

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The Answer of On April 1, 2015, Nurix Manufacturers purchases equipment for $100,000, paying $30,000 in cash and signing a 10-year mortgage for $70,000 taken out at 8%. Prepare the journal entry to record the acquisition of the equipment.

On April 1, 2015, Nurix Manufacturers Purchases Equipment for $100,000