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View Policies Current Attempt in Progress Steve Acrobats lent $8,264 to Donaldson, Inc, accepting...

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Accounting

View Policies
Current Attempt in Progress
Steve Acrobats lent $8,264 to Donaldson, Inc, accepting Donaldson's 2- year, $10,000, zero-interest-bearing note The implied interest rate is 10%.
Prepare Steve's journal entries for the initial transaction, recognition of interest each year, and the collection of $10,000 at maturity. (Round answers to 0 decimal places, eg.5,275. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credi? account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
Account Titles and Explanation
Debit
Credit
(To record the initial transations)
(To record the recognition of interest in year one)
(To recognize the interest in year 2)
(To record the collection of the note)
eTextbook and Media
List of Accounts
Artempits: 0 of 3 used
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