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Note Receivable Problem 2 On January 1, 2020, ABC sold merchandise to a cu (stated...

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Note Receivable Problem 2 On January 1, 2020, ABC sold merchandise to a cu (stated rate) note. Interest is to be paid annually on December 31. merchandise to a customer and agreed to accept a 4-year, $100,000, a. Determine the issue price of the note receivable. b. Provide the journal entry to record the bond issue? c. Determine the amount of interest revenue that Sparky will recognize over the life of the NR? PMT Int. Rev Dis Amort CV d. Fill in the amortization table: PMT # Date 0 1 /1/2020 1 12/31/2020 2 12/31/2021 3 12/31/2022 4 12/31/2023 Totals Prepare the AJE for 12/31/2020 Note Receivable Problem 2 On January 1, 2020, ABC sold merchandise to a cu (stated rate) note. Interest is to be paid annually on December 31. merchandise to a customer and agreed to accept a 4-year, $100,000, a. Determine the issue price of the note receivable. b. Provide the journal entry to record the bond issue? c. Determine the amount of interest revenue that Sparky will recognize over the life of the NR? PMT Int. Rev Dis Amort CV d. Fill in the amortization table: PMT # Date 0 1 /1/2020 1 12/31/2020 2 12/31/2021 3 12/31/2022 4 12/31/2023 Totals Prepare the AJE for 12/31/2020

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