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Rebecca Land Corp. issued a 5 - year, zero - interest - bearing note with a $ 1 , 0 0 0 , 0 0
Rebecca Land Corp. issued a year, zerointerestbearing note with a $ face value to Lindsay Inc. for $ cash. Rebecca also gave Lindsay the right to use a parcel of land for equipment storage for years. Interest rates for notes of this type were at issue. Instructions Prepare the journal entries to record the issuance of the note by a Rebecca and b Lindsay. Use your calculator and round values to the nearest dollar. please provide the response in depth
Rebecca Land Corp. issued a year, zerointerestbearing note with a
$ face value to Lindsay Inc. for $ cash. Rebecca also gave
Lindsay the right to use a parcel of land for equipment storage for years.
Interest rates for notes of this type were at issue.
Instructions
Prepare the journal entries to record the issuance of the note by a Rebecca and
b Lindsay.
Use your calculator and round values to the nearest dollar.
please provide the response in depth
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