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Frank Ricard Inc. sells inventory on January 1st 2020 in exchange for a $2,000 note, due in 2 years (i.e., zero interest bearing). The effective

Frank Ricard Inc. sells inventory on January 1st 2020 in exchange for a $2,000 note, due in 2 years (i.e., zero interest bearing). The effective interest rate for this note is 10 percent

Prepare all journal entries related to note and any related interest from January 1st, through the repayment on January 1st 2022.

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