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President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was made in...

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Accounting

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President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was made in the form of a noninterest-bearing note requiring President to make six annual payments of $7,800 on each September 30 . beginning on September 30,2027. Required: Calculate the amount at which President should record the note payable and corresponding purchase on September 30 . 2024 , assuming that an interest rate of 9% properly reflects the time value of money in this situation. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. Round your intermediate calculations to the nearest whole dollar. (FV of \$1, PV of \$1. FVA of \$1, PVA of \$1. FVAD of S1 and PVAD of \$1)

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