Question
In: Accounting
A company sold a piece of equipment at the beginning of year 1, receiving a $29,000,...
A company sold a piece of equipment at the beginning of year 1, receiving a $29,000, two – year 1% note. Interest is paid at the end of each year. Market interest rates are assumed to be 10%
- Calculate the present value of the note receivable
- Prepare journal entries for the sale, interest revenue, and cash collection each year for two years
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ekkarill92 answered 1 year agoRelated Solutions
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