Bencorp issues a 90000 6 month non-interest bearing note


Question - Bencorp issues a $90,000, 6 month, non-interest bearing note that the bank discounted at a 10% discount Rate.

1. Prepare the appropriate journal entry to record the issuance of the note.

2. Determine the effective interest Rate.

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Accounting Basics: Bencorp issues a 90000 6 month non-interest bearing note
Reference No:- TGS02868585

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