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On October 30, 2019, Sanchez Company acquired a piece of machinery and signed a 12-month note for $24,000. The face value of1. Prepare all the journal entries required to record the information given including the year-end adjusting entry and any paGENERAL JOURNAL Score: 222/259 DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT Oct. 30 Machine 21,779.00 Discount on Notes PayableJul. 31 Interest Expense 453.00 6,000.00 Notes Payable Discount on Notes Payable 453.00 Cash 6,000.00 Oct. 30 Interest Expens2. Show how the preceding items would be reported on the December 31, 2019, balance sheet. Balance Sheet Instructions SANCHEZ

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Journal Entries Date Account Title and Explaination Debit Credit Post. Ref. 20,689.66 3,310.34 Oct.30 Machine ($24000x PVF(1,Apr.30 2020 587.59 6,000.00 Interest Expense ($20689.66-$6000)x16%x3/12 Notes Payable Cash Discount on Notes Payable (To recoSANCHEZ COMPANY Partial Balance Sheet As on December 31, 2019 Property,Plant and Equipment: Machine $ 20,689.66 24,000.00 A C

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