Please answer question 8 AND 9!!! 8. On January 1, 2020, XYZ issues a...
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Accounting
Please answer question 8 AND 9!!!
8. On January 1, 2020, XYZ issues a zero-interest-bearing note whose $100,000 face value is due in exactly 3 years. Based on XYZ's risk profile, it is able to sell this note for 10% effective interest rate. Show the journal entry made on January 1. 9. Show the journal entry made on December 31, 2020, assuming no other journal entries were made during the year.
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