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Your answer is partially correct. Steve Acrobats lent $19,835 to Donaldson, Inc., accepting Donaldson's 2-years, $24,000, zero-interest-bearing note. The implied interest rate is 10%. Prepare Steve's journal entries for the initial transaction, recognition of interest each year, and the collection of $24,000 at maturity. (Round answers to decimal places, eg. 5.275. If 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 Receivable 24000 Cash 19835 Discount on Notes Receivable (To record the initial transations) 2. Discount on Notes Receivable 1984 Interest Revenue INI DI LOT (To record the recognition of interest in year one) Discount on Notes Receivable 3 Interest Reverse (To recognize the interest in year 2) 4. Cash 24000 Notes Receivable 24000 To record the collection of the note)