On January 1, 2022, Deng Acrobats lent NT$16,529 to Donaldson, Inc., accepting Donaldsons 2-year, NT$20,000, zero-interest-bearing note.
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On January 1, 2022, Deng Acrobats lent NT$16,529 to Donaldson, Inc., accepting Donaldson’s 2-year, NT$20,000, zero-interest-bearing note. The implied interest rate is 10%. Prepare Deng’s journal entries for the initial transaction, recognition of interest each year, and the collection of NT$20,000 at maturity.
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Date Particular LF Amount Amount Jan12022 Notes Receivables ac 16529 To Cash Bank ac 16529 Being ...View the full answer
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Related Book For 
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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