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please help with this attachment. Kohl Company lent $51,400 to Hemingway, Inc, accepting Hemingway's 2-year, $63,444, zero-interest-bearing note. The implied interest rate is 11.1%. Prepare
please help with this attachment. Kohl Company lent $51,400 to Hemingway, Inc, accepting Hemingway's 2-year, $63,444, zero-interest-bearing note. The implied interest rate is 11.1%. Prepare Kohl's journal entries for the initial transaction, recognition of interest each year, and the collection of $63,444 at maturity.
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