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1. Samson Corporation issued a 4-year, $75,000, zero-interest-bearing note to Brown Company on January 1, 2011, and received cash of $47,664. The implicit interest rate is 12%. Prepare Samson's journal entries for
(a) The January 1 issuance and
(b) The December 31 recognition of interest.
Why might it be expected that there would be more examples of political lobbying relating to the US than to any other country?
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