Red brick inc. purchased a piece of factory equipment on may 1. the 170,000 equipment was purchased by signing a three month (6% annual rate) note.

Red brick inc. purchased a piece of factory equipment on may 1. the 170,000 equipment was purchased by signing a three month (6% annual rate) note. interest is accrued monthly but all interest and principal will be paid upon maturity of the note. prepare entry for july 31 please help me seriously this is my homework