Brief Exercise 7-18 (Algo) Long-term Notes Receivable [LO7-7] On April 19, 2021, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $110,000 in eight years. The applicable effective interest rate is 5%. (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount of sales revenue would Millipede recognize on April 19, 2021, for the Hartwood transaction? (Round your final answer to nearest whole dollar.) Sales revenue
Brief Exercise 7-18 (Algo) Long-term Notes Receivable [LO7-7] On April 19, 2021, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $110,000 in eight years. The applicable effective interest rate is 5%. (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount of sales revenue would Millipede recognize on April 19, 2021, for the Hartwood transaction? (Round your final answer to nearest whole dollar.) Sales revenue
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 79E
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