Question: 1 - Jan Janus Corp. lent $ 6 6 , 1 1 6 to Jeeter Company, accepting Jeeter's 2 year, $ 8 0 , 0

1-Jan Janus Corp. lent $66,116 to Jeeter Company, accepting Jeeter's 2 year, $80,000
Date
Account Title
Debit
Credit
non-interest bearing note. The implied interest rate is 10%.
Prepare Janus' journal entries for the initial transaction, the recognition of interest each
year, and the collection of the $80,000 at maturity.
1-Jan Janus Corp. lent $66,116 to Jeeter Company, accepting Jeeter's 2

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