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Bencorp issues a $90,000, 6 month, non-interestbearing note that the bank discounted at a 10% discount Rate. 1, Prepare the appropriate journal entry to record

Bencorp issues a $90,000, 6 month, non-interestbearing note that the bank discounted at a 10% discount Rate.

1, Prepare the appropriate journal entry to record the issuance of the note

2, Determine the effective interest Rate.

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