Business, 17.07.2020 17:01 tannercarr7428

On January 1, 2024, Ott Co. sold goods to Flynn Company. Flynn signed a zero-interest-bearing note requiring payment of $160,000 annually for seven years. The first payment was made on January 1, 2024. The prevailing rate of interest for this type of note at date of issuance was 10%. Information on present value factors is as follows: ?Period PresentValue of 1 at 10%? Present Value of Ordinary Annuity of 1 at 10% 6?.5645? 4.3553 7?.5132? 4.8684 Ott should record sales revenue in January 2024 of

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On January 1, 2024, Ott Co. sold goods to Flynn Company. Flynn signed a zero-interest-bearing note r...

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