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Accounting

Dold Acrobats lent $29,091 to Donaldson, Inc., accepting Donaldson's 2-year, $35,843, zero-interest bearing note. The implied interest rate is 11%.

Prepare Dold's journal entries for the initial transaction, recognition of interest each year, and the collection of $35,843 at maturity. (Round answers to 0 decimal places, e.g. $6,538. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9406662

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