During the beginning of 2024 one of Zain's customers Erika Rogers was experiencing cash flow problems and was unable to pay her $19,120 account to Zain Mangement Group. Zain Management Group agreed to substitute a two-year note for the open account starting on January 1st, 2024 Zain issued a two year non-interest bearing note. The note has an implied interest rate of 6%. Prepare the journal or adjusting entries for the note for the two years.
