Question: Dear expert please help me with this calcuation , thanks in advance. General Motors. Made a loan and received in exchange a 3 year, $120,000

Dear expert please help me with this calcuation , thanks in advance.

General Motors. Made a loan and received in exchange a 3 year, $120,000 note bearing interest 3.5 percent. The market rate of interest for a note of similar risk is 3.5 percent. How does company record the receipt of the note? Do calculations for discount amortizations if applicable along with early journal entries the company had to pass.

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