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could someone please help? Bonita Compary loaned $57,504 to Hemingway, Inc, accepting Hemiruway's 2 -year, $72,000, zero-interest-bearing note The inplied interest rate is 10%. Prepare
could someone please help?
Bonita Compary loaned $57,504 to Hemingway, Inc, accepting Hemiruway's 2 -year, $72,000, zero-interest-bearing note The inplied interest rate is 10%. Prepare Bonita's journal entries for the initial transaction, recogsition of internst each year, and the collection of $72,000 at maturity. Question 17 of 20 TTo record the receipt of the note at a discount.] (To record the innterest revermat at the end of 19 vear) (To record the interest revenue at the end ot 2 nd year.) (To record receipt of notes.) Step by Step Solution
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