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Newman Acrobats lent $26,784 to Donaldson, Inc, accepting, Donaldson's 2-year, $33,000, zero-interest-bearing note. The implied interest rete is 11% Prepare Newman's joumal entries for the

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Newman Acrobats lent $26,784 to Donaldson, Inc, accepting, Donaldson's 2-year, $33,000, zero-interest-bearing note. The implied interest rete is 11% Prepare Newman's joumal entries for the initial transaction, recognition of interest each year. and the collection of $33,000 at imaturity. Round answess to 0 decimal places, es, 5,275, If no entry is required, select "No Entry" for the occount tiltes and enter Ofor the credicentries

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