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kohl company loanded 6 6 1 1 6 to heminway inc accepting hemingway 2 year 8 0 0 0 0 zero interest bearing note. Implied
kohl company loanded 6 6 1 1 6 to heminway inc accepting hemingway 2 year 8 0 0 0 0 zero interest bearing note. Implied interst rate is 1 0 % how would kohl record this transaction? A . debit notes receivable 8 0 0 0 0 , credit discount on notes recivable 1 3 8 8 4 , credit cash 6 6 1 1 6 B . debit ntoes recivable 8 0 0 0 0 , credit cash 8 0 0 0 0 C . Debit notes receivable 8 0 0 0 0 , credit interest revenue 1 3 8 8 4 , credit cash 6 6 1 1 6 D . debit cash 6 6 1 1 6 , credit discount on notes recivable 1 3 8 8 4 , credit notes recivable 8 0 0 0 0 E . debit notes recivbale 8 0 0 0 0 , credit interest revenue 8 0 0 0 0
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