Eleanor Shellstrop sells inventory in exchange for $1,000 today and $2,000 a year for 5 years (i.e., 5 payments of 2,000 starting in 1 year), starting 1 year from today. How much revenue does she recognize today? Enter a negative number if you credit revenue, positive number if you debit revenue. Assume an 8 percent effective interest rate.

Eleanor Shellstrop sells inventory in exchange for $1,000 today and $2,000 a year for 5 years (i.e., 5 payments of 2,000 starting in 1 year), starting 1 year from today. How much revenue does she recognize today? Enter a negative number if you credit revenue, positive number if you debit revenue. Assume an 8 percent effective interest rate.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 1BCRQ

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