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thanl you in advance Pronghorn Corporation issued a 4-year, $85,000,2 ero-interest-bearing note to Brown Companyon 1 anuary 1,2025 . and received cash of $48.599. The
thanl you in advance
Pronghorn Corporation issued a 4-year, $85,000,2 ero-interest-bearing note to Brown Companyon 1 anuary 1,2025 . and received cash of $48.599. The implicit interest rateis 15% Prepare Pronghorn'sjournal entries for (a) the faniany 1 issuance and (b) the December 31 recognition of interest. (Round answers to 0 decimal places, ef.38,548. If no entry is required, select "No Entry for the account tities and enter of for the amounts. Creditaccount tites are automaticallyindented when the omount is entered. Do not indent manually, List alf debitentries befort creditentries Step by Step Solution
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