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please help Crane Company loaned $68,760 to Pronghorn, Inc, accepting Pronghorn's 2 -year, $83,200, zero-interest-bearing note. The implied interest rate is 10% Prepare Crane's journal
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Crane Company loaned $68,760 to Pronghorn, Inc, accepting Pronghorn's 2 -year, $83,200, zero-interest-bearing note. The implied interest rate is 10% Prepare Crane's journal entries for the initial transaction, recognition of interest each year, and the collection of $83,200 at maturity, (Credit occount titles are outomatically indented when the omount is entered. Do not indent manually List all deblt entries before credit entries. Round answers to 0 decimal places, eg. 5.815.) (To record the receipt of the note at a discount.) (To record the interest revenue at the end of 1st year.) (To record the interest revenue at the end of 2 nd year.) (To record collection of note.) Attempts: 0 of 1 used Subent Answer 5. We for Later Step by Step Solution
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