Business, 07.04.2020 22:26 haydenamrhein1693

Kassia Co. accepted a zero interest bearing note from a customer for total consideration of $300,000 to be paid in 3 years on January 31, 2020. The going market interest rate was 5%, however, management determined this customer posed a slightly higher credit risk and figured their interest rate should be 7%.You are responsible for providing two separate journal entries: January 31, 2020, and December 31, 2020

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Kassia Co. accepted a zero interest bearing note from a customer for total consideration of $300,000...

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