Question 17 Sunland Company loaned $ 79,339 to Hemingway, Inc, accepting Hemingway's 2- year, $96,000, zero-interest-bearing note. The implied interest rate is 10%. Prepare Sunland's journal entries for the initial transaction, recognition of interest each year, and the collection of $96,000 at maturity. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (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 Account Titles and Explanation Debit Credit (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 2nd year.) (To record receipt of notes.) List Of Accounts Question 17 Accounts Payable Accounts Receivable Advertising Expense Allowance for Doubtful Accounts Allowance for Sales Returns and Allowances Bad Debt Expense Cash Cash Over and Short Due from Factor Due to Customer Discount on Notes Payable Discount on Notes Receivable Equity Investments Freight-In Freight-Out Gain on Disposal of Land Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Loss on Disposal of Investment Loss on Sale of Receivables Maintenance and Repairs Expense Miscellaneous Expenses No Entry Notes Payable Notes Receivable Office Expense Owner's Drawings Petty Cash Postage Expense Prepaid Postage Purchase Discounts Recourse Liability Sales Discounts Accounts Payable Accounts Receivable Advertising Expense Allowance for Doubtful Accounts Allowance for Sales Returns and Allowances Bad Debt Expense Cash Cash Over and Short Due from Factor Due to Customer Discount on Notes Payable Discount on Notes Receivable Equity Investments Freight-In Freight-Out Gain on Disposal of Land Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Loss on Disposal of Investment Loss on Sale of Receivables Maintenance and Repairs Expense Miscellaneous Expenses No Entry Notes Payable Notes Receivable Office Expense Owner's Drawings Petty Cash Postage Expense Prepaid Postage Purchase Discounts Recourse Liability Sales Discounts Sales Discounts Forfeited Sales Returns and Allowances Sales Revenue Service Revenue Supplies Supplies Expenses Unearned Sales Revenue