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  3. 4. on december 31, 2021, a company sells goods to

4. On December 31, 2021, a company sells goods to a customer, accepting $1,500 immediate...

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Accounting

4. On December 31, 2021, a company sells goods to a customer, accepting $1,500 immediate cash payment and a 5-year, $15,000 note bearing 4% annual interest in exchange for the goods. The market rate of interest for a note of similar risk is 6%. What amount does the company record as sales revenue on December 31, 2021? a. $11,209 b. $12,709 c. $13,736 d. $15,236

5. Using the information from question 4, how much interest income will the company recognize for this note on the December 31, 2023 income statement? a. $558 b. $802 c. $838 d. $1,438

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