On january 1, 2019, ellen greene company makes the following acquisition.
purchases land havin...
Business, 23.11.2019 03:31, hnsanders00
On january 1, 2019, ellen greene company makes the following acquisition.
purchases land having a fair value of $200,000 by issuing a 5-year, zero-interest-bearing promissory note in the face amount of $337,012.
on december 31, 2019, how much interest expense should be recognized on the zero-interest-bearing promissory note? (hint: first solve for the implied interest rate) round your final answer to the nearest dollar.
Answers: 3
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