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need help with all Debit and credit answers ASAP pleas Chris Acrobats bent $15,432 to Donaldson, Inc., accepting Donaldson's 2-years, 518,000, zero interest bearing note.
need help with all Debit and credit answers ASAP pleas
Chris Acrobats bent $15,432 to Donaldson, Inc., accepting Donaldson's 2-years, 518,000, zero interest bearing note. The implied interest rate is BX Prepare Chris's journal entries for the initial transaction recognition of interest each year, and the collection of $18,000 at maturity (Round answers to decimal places, es 5,275, no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit 1 Notes Rechable Discount on Notes Receivable To record the initial transations) 2 Discount on Notes Receivable even To record the initial transation) 2 Discount on Noticiable To record the recognition of interest in year one 3 Discount on Notes Recewa Interest Revue (To recognize the interest in year 2) Cash Motos Receivable (To record the collection of the note) Step by Step Solution
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