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Adams Acrobats lent $48,868 to Donaldson, Inc., accepting Donaldson's 2-year, $57,000, zero-interest-bearing note. The implied interest rate is 8%. Prepare Aldams's journal entries for the

Adams Acrobats lent $48,868 to Donaldson, Inc., accepting Donaldson's 2-year, $57,000, zero-interest-bearing note. The implied interest rate is 8%. Prepare Aldams's journal entries for the initial transaction, recognition of interest each year, and the collection of $57,000 at maturity.

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