On January 1, 2017, Harrison Inc. purchased land by issuing a 4-year, zero-interest-bearing note in the...

On January 1, 2017, Harrison Inc. purchased land by issuing a 4-year, zero-interest-bearing note in the face amount of $104,864. The company has to pay 7% interest for funds from its bank and has a December 31 fiscal year end. Prepare the following journal entries:

January 1, 2017

December 31, 2017

December 31, 2018

Expert Solution

ekkarill92 answered 1 year ago

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