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Business, 18.12.2019 19:31 jake122390

Wildhorse corporation issued a 6-year, $72,000, zero-interest-bearing note to garcia company on january 1, 2017, and received cash of $72,000. in addition, wildhorse agreed to sell merchandise to garcia at an amount less than regular selling price over the 6-year period. the market rate of interest for similar notes is 11%. prepare wildhorse corporation’s january 1 journal entry.

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Wildhorse corporation issued a 6-year, $72,000, zero-interest-bearing note to garcia company on janu...
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