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Prepare Pina journal entries for the January

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Question - Pina Corporation issued a 4-year, $60,000, zero-interest-bearing note to Brown Company on January 1, 2020, and received cash of $39,524. The implicit interest rate is 11%. Prepare Pina's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest.

Reference no: EM132863662

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