Our company is a money lender. On January 1, a customer signed a note promising to pay us $100,000 in 11 months. The note said nothing about interest. But we gave our customer $95,000, not $100,000. We do financial statements annually at December 31. Make the journal entry on January 1 when we lent the money, and the entry on December 1 when our customer repays the note. You can make one entry on December 1 or two. Jan 1 PART 8