home / study / business / accounting / accounting questions and answers / Brief Exercise 14-15 Shlee Corporation Issued A 5-year, $79,400, Zero-interest-bearing Note ... Question: Brief Exercise 14-15 Shlee Corporation issued a 5-year, $79,400, zero-interest-bearing note to Ga... Brief Exercise 14-15 Shlee Corporation issued a 5-year, $79,400, zero-interest-bearing note to Garcia Company on January 1, 2014, and received cash of $79,400. In addition, Shlee agreed to sell merchandise to Garcia at an amount less than regular selling price over the 5-year period. The market rate of interest for similar notes is 15%. Prepare Shlee Corporations January 1 journal entry