Windsor Corporation issued a year, $ zerointerestbearing note to Garcia Company on
January and received cash of $ In addition, Windsor agreed to sell merchandise to
Garcia at an amount less than regular selling price over the year period. The market rate of interest
for similar notes is
Click here to view factor tables.
Prepare Windsor Corporation's January journal entry. Round present value factor calculations to
decimal places, eg and final answer to decimal places, eg If no entry is required, select
No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented
when the amount is entered. Do not indent manually. List all debit entries before credit entries.
