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To help a company finance the construction of a building the government provides $116,000 cash, in exchange for a $116,000, fiveyear, zero-interest-bearing note at face
To help a company finance the construction of a building the government provides $116,000 cash, in exchange for a $116,000, fiveyear, zero-interest-bearing note at face value when the market rate at interest is 10%. Click here to view the factor table PRESENT VALUEOF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Prepare the journal entry to record the loan. (List all debit entries before credit entries Credic occount titles are outomoticolly indented whien the amount is entered. Do not indent manuolly if no entry is required, select 'No Entry' for the account tiles and eater O for the anounts, For coiculation purposes, use 5 decinal ploces os disployed in the factor toble providid, kaund answens ta odecimal places, es 5.275
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