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Prepare Dold journal entries for the initial transaction

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Question - Dold Acrobats lent $16,529 to Donaldson, Inc., accepting Donaldson's 2-years, $20,000, zero-interest-bearing note. The implied interest rate is 10%.

Prepare Dold's journal entries for the initial transaction, recognition of interest each year, and the collection of $20,000 at maturity.

Reference no: EM133051669

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