A company purchased a garage from a business with a 7%, 4-year, $75,000 note. The seller's book value for the garage was $42,750. What is the journal entry to record this purchase? 
Definitions:
Harry Stack Sullivan
An American psychiatrist known for his theory of interpersonal relationships and his contributions to the development of psychoanalytic and psychodynamic theories of personality.
Research
Systematic investigation to establish facts and reach new conclusions.
Friendships
Relationships between two or more individuals based on mutual affection, trust, support, and interests.
Physical Support
The act of providing assistance or reinforcement that is physical in nature, often essential for health and wellbeing.
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