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How does the company record the receipt of the note

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Question 1: Yamin Group of Companies made a loan and received in exchange a 3-year, $85,000 note bearing no interest. The market rate of interest for a note of similar risk is 9 percent. How does the company record the receipt of the note? Do calculations for discount amortizations if applicable along with early journal entries the company had to pass.

Reference no: EM132594721

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