Current Attempt in Progress Cullumber Company sells land with a book value of $143750...
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Current Attempt in Progress Cullumber Company sells land with a book value of $ to Marin Corp. in exchange for a $ zerointerestbearing note payable in years. The market rate of interest for a transaction of this nature for Marin is The present value of at for years is and the present value of an ordinary annuity of at for years is If the sale occurred on January and the fiscal year ends on December the journal entry amount for interest revenue at the second year using the effectiveinterest method rounded to the nearest dollar is $ $ $ $ 
Current Attempt in Progress
Cullumber Company sells land with a book value of $ to Marin Corp. in exchange for a $ zerointerestbearing note payable in years. The market rate of interest for a transaction of this nature for Marin is The present value of at for years is and the present value of an ordinary annuity of at for years is If the sale occurred on January and the fiscal year ends on December the journal entry amount for interest revenue at the second year using the effectiveinterest method rounded to the nearest dollar is
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