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Carla Vista Company loaned $78,017 to Flint, Inc., accepting Flint's 2-year, $94,400, zero-interest-bearing note. The implied intere rate is 10% Prepare Carla Vista's journal entries
Carla Vista Company loaned $78,017 to Flint, Inc., accepting Flint's 2-year, $94,400, zero-interest-bearing note. The implied intere rate is 10% Prepare Carla Vista's journal entries for the initial transaction, recognition of interest each year, and the collection of $94,400 at maturity. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before
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