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1Samson PLC issued a 4-year, 75,000, zero-interest-bearing note to Brown Ltd. on January 1, 2019. The implicit interest rate is 12%. Prepare Samsons journal entries

1Samson PLC issued a 4-year, 75,000, zero-interest-bearing note to Brown Ltd. on January 1, 2019. The implicit interest rate is 12%. Prepare Samsons journal entries for (a) the January issuance and (b) the December 31 recognition of interest.

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