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Prepare Teal Mountain journal entries for transaction

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Question - Teal Mountain Inc. lent $12,136 to Indigo Corporation, accepting Indigo's $12,500, three-month, zero-interest-bearing note. The implied interest is approximately 12%. Prepare Teal Mountain's journal entries for the initial transaction and the collection of $12,500 at maturity.

Reference no: EM132728985

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