2: Interest-Bearing Note On 1/1/2019, Arden Farm...
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2: Interest-Bearing Note On 1/1/2019, Arden Farm Company a four-year, $50,000 note bearing interest at 10 percent annually. The market rate of interest for a note of similar risk is 11 percent. Prepare the journal entry to record the receipt of the note? (1). Record the receipt of the note on 1/1/2019? (2). Prepare the journal entry to record interest retenue at the end of the 2019 and 2020
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