Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. saved help save & exit submit check my work th

Saved Help Save & Exit Submit Check my work The Field Detergent Company sold merchandise...

50.1K

Verified Solution

Question

Accounting

image

Saved Help Save & Exit Submit Check my work The Field Detergent Company sold merchandise to the Abel Company on June 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Abel to pay $85,000 on June 30, 2023. Assume that a 10% interest rate properly reflects the time value of money in this situation. (FV of $1. PV of $1. FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount at which Field should record the note receivable and corresponding sales revenue on June 30, 2021. (Round your final answers to nearest whole dollar amount.) aces Table or calculator function: Future value: na PV Note/Revenue: 28 29 30 31 32 34 35 37 5 of 10 Next >

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A not-for-profit organization receives a restricted gift. When and in which type of fund should it...

Accounting
Q

What evidence of Brutus'honor can be found in the highlighted passage from section 21?A. Cassius...

Biology
Q

A certain quantity of O y 7 5 is compressed isothermally until its pressure is...

Physics
Q

In order to image small objects with high resolution select all possible methods Lower electron...

Geometry
Q

For the following problem use the 68 95 99 7 Rule to approximate the probability...

Statistics
Q

Find the second derivative of the function f x 4e sin x O O O...

Calculus
Q

The derivative of y 34x is Oyl 342 In 4 Oyl 4 342 In 3...

Calculus
Q

Exercise 13-9 (Static) Analyzing risk and capital structure LO P3 [Alternate Version] Skip to question...

Accounting
Q

If sales revenue is $1,650,000, gross margin is $630,000, income is $93,000, invested capital is...

Accounting
Q

Which of the following operating activities have a positive cash flow impact for a company?...

Accounting
Q

The following financial data and ratios are typical of companies in Lydex Company's industry: 3....

Accounting
Q

Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented...

Accounting