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Tony Acrobats lent $44,628 to Donaldson, Inc., accepting Donaldson's 2-year, $54,000, zero-interest-bearing note. The im interest rate is 10%. Prepare Tony's journal entries for the
Tony Acrobats lent $44,628 to Donaldson, Inc., accepting Donaldson's 2-year, $54,000, zero-interest-bearing note. The im interest rate is 10%. Prepare Tony's journal entries for the initial transaction, recognition of interest each year, and the collection of $54,000 at (Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the an account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit er
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