1 2 3 4 5 6 PV of $1 0.90090 0.81162 0.73119 0.65873 0.59345 0.53464 FV of $1 1.11000 1.23210 1.36763 1.51807 1.68506 1.87041 PVA of $1 0.90090 1.71252 2.44371 3.10245 3.69590 4.23054 FVA of $1 1.0000 2.1100 3.3421 4.7097 6.2278 7.9129 Polo Publishers purchased a multi-color offset press with terms of $95,000 down and a noninterest-bearing note requiring payment of $80,000 at the end of each year for five years. The interest rate implicit in the purchase contract is 11%. Polo would record the asset at:

1 2 3 4 5 6 PV of $1 0.90090 0.81162 0.73119 0.65873 0.59345 0.53464 FV of $1 1.11000 1.23210 1.36763 1.51807 1.68506 1.87041 PVA of $1 0.90090 1.71252 2.44371 3.10245 3.69590 4.23054 FVA of $1 1.0000 2.1100 3.3421 4.7097 6.2278 7.9129 Polo Publishers purchased a multi-color offset press with terms of $95,000 down and a noninterest-bearing note requiring payment of $80,000 at the end of each year for five years. The interest rate implicit in the purchase contract is 11%. Polo would record the asset at:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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