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Create a january journal entry

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Point 1: Nash Corporation issued a 5-year, $86,000, zero-interest-bearing note to Garcia Company on January 1, 2020, and received cash of $86,000. In addition, Nash agreed to sell merchandise to Garcia at an amount less than regular selling price over the 5-year period. The market rate of interest for similar notes is 12%.

Question 1: Prepare a January 1 journal entry

Reference no: EM132484741

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