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You will remember that we originally bought $12,600 of equipment on account shortly before we...

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Accounting

You will remember that we originally bought $12,600 of equipment on account shortly before we opened the doors to Wave Gear. Given the rapid success we are having, I paid off the $12,600 along with an additional $100 representing interest expense for a total of $12,700. Please make the appropriate journal entry recording this transaction.
Thanks,
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