Business, 18.12.2019 21:31 mads3499

Braxton technologies, inc., constructed a conveyor for a& g warehousers that was completed and ready for use on january 2, 2021. a& g paid for the conveyor by issuing a $100,000, four-year note that specified 5% interest to be paid on december 31 of each year, and the note is to be repaid at the end of four years. the conveyor was custom-built for a& g, so its cash price was unknown. by comparison with similar transaction it was determined that a reasonable interest rate was 10%.

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