Prepare orioles journal entries

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Oriole Corporation issued a 5-year, $76,000, zero-interest-bearing note to Brown Company on January 1, 2017, and received cash of $45,102. The implicit interest rate is 11%.

Problem 1: Prepare Oriole's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest

Reference no: EM132459681

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