on december 31, 2020, bones corporation sold an old machine, the terms of the sale...
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Accounting
on december 31, 2020, bones corporation sold an old machine, the terms of the sale were as follows:
$2500 down payment at the time of the sale
$50000 payable on December 31 each of the next three years.
5% would be a fair market interest rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31,2020 rounded to the nearest dollar? ( The present value of an ordinary annuity of 1 at 5% for 3 years is 2.7233)
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