Question: IL Short Answer (5 points): Notes Receivable. Dold Acrobats lent $26,700 to Donaldson, Inc., accepting Donaldson's 2-year, $30,000, zero- interest-bearing note. The implied interest rate

 IL Short Answer (5 points): Notes Receivable. Dold Acrobats lent $26,700

IL Short Answer (5 points): Notes Receivable. Dold Acrobats lent $26,700 to Donaldson, Inc., accepting Donaldson's 2-year, $30,000, zero- interest-bearing note. The implied interest rate is 6%. Instructions: Prepare Dold Acrobats' journal entries for 1) the initial transaction, 2) recognition of intercer the 15 year, 3) recognition of interest in the 2 year, and 4) th monition of interest in the 2 year, and 4) the collection of principal at maturit Round numbers to the nearest whole dollar

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