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On June 1,2019, Zimmerman, Inc. purchased $85,000 of equipment from Hampton. Zimmerman signed...

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Accounting

On June 1,2019, Zimmerman, Inc. purchased $85,000 of equipment from Hampton. Zimmerman
signed a note that required $10,000 down with the remainder due in 6 quarterly installments (due
on Sept 1, Dec 1, Mar 1, June 1, etc.). The interest rate on the note is 11%.
With regards to these notes, please make the following journal entries for Hampton:
A. The journal entries to record the initial sale of equipment, receipt of cash, and note receivable for
both notes.
B. Any payments made by Zimmerman or Mueller during the course of 2019.
C. Interest revenue accrued as of 12/31/19.

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