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Ch. 14, Q. 6 Flint Corporation issued a 4-year, $60,000,zero-interest-bearing note to Brown...

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Accounting

Ch. 14, Q. 6

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Flint Corporation issued a 4-year, $60,000,zero-interest-bearing note to Brown Company on January 1, 2020, and received cash of $39,524. The implicit interest rate is 113. Prepare Flint's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest. (Round answers to decimal plans 4 99548. If no entry is required, et "No Entry for the count title and enter for the amounts Credit Scount til conterad. Do not indkant manual) No. Date Account Titles and Explanation Debit Credit

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